It is absurd to say we wish to do away with religion, education, property, labor, and the arts simply because we oppose government subsidies. Rather, we merely oppose stealing from one group of citizens and handing over their wealth to others.
It is striking that the major resurgence of Scholastic ideas came out of Austria in the late 19th century, a country that had avoided a revolutionary political or theological upheaval. If we look at Menger's own teachers, we find successors to the Scholastic tradition.
Successful entrepreneurial leaders play a central role in empowering employees to use their localized knowledge.
Consumers are indeed sovereign, but the reason consumers can exercise their sovereignty is that entrepreneurs have already borne the uncertainty of production to make the goods available for purchase.
Consumers are indeed sovereign, but the reason consumers can exercise their sovereignty is that entrepreneurs have already borne the uncertainty of production to make the goods available for purchase.
This new typology of numerous strands of Austrian (and Austrian-related) economics provides some essential insights into the field of entrepreneurship and organization economics.
Marx and Engels denied that the individual played a role in historical evolution, and the idea of “individualism” remains an important antidote to Marxism today.
This paper introduces, through two longitudinal case studies, a more dynamic understanding of opportunities. This generates novel insights about how entrepreneurs view opportunities.
Just as markets can be described as price discovery procedures for existing goods, services, and resources, entrepreneurship can be usefully described as a price discovery procedure for future goods, services, and resources.
