Schumpeter's review, now available in English, emphasizes that Fetter's Principles is more than merely a textbook, and highlights the close connection between Fetter’s theory and the economics of the Austrian school, especially his classification of entrepreneurial activity.
Calls for finding efficiencies in government by electing or appointing people to “run it like a business” are futile.
If you are “self-employed,” you do not have the luxury of focusing on keeping down or cutting (your) costs instead of creating value.
Once it is understood that profits and losses evolve from the changing values of consumers, it becomes obvious that abolishing windfall profits or windfall losses is impossible.
Efficiency is not just the avoidance of waste. When entrepreneurs expand the boundaries of what is economically possible, we get "dynamic efficiency," which is essential for progress.
Whether we wish any particular boycott well or ill depends on our moral values. But a boycott is legitimate per se.
Contrary to much recent scholarship, there is no difference in kind between “social” entrepreneurship and mundane entrepreneurship.
Entrepreneurship is a double-edged sword. Using policy to support entrepreneurship is a balancing act between productive and unproductive behavior.
The English Levellers were the world's first self-consciously libertarian mass movement.
