It’s a great time to be studying entrepreneurship. Today as never before entrepreneurs are confronted with “grand challenges” both in the marketplace and society more broadly. And despite constant efforts to stifle their work, entrepreneurs rise to these challenges, thereby showing their vital role in solving some of our deepest economic and social problems.
Business schools now often tell students that shareholders are socially irresponsible by seeking only profit and ignoring the “stakeholders in the community.” But in practice, owners must be respectful of many outside groups (such as employees and vendors), to be profitable.
Charity serves an important and indispensable function in society: not everyone can engage in enough productive work to meet the daily needs of his or her family. But entrepreneurs and businesses have to create wealth before it can be given away.
Krugman is confused as to why so much technological growth in recent years has not led to more economic growth. The answer lies in the fact that true technological change requires funding — and thus real savings — to be implemented.
Communities like Baltimore and Ferguson have been crippled by government regulations and the American nanny state.
Communities like Baltimore and Ferguson have been crippled by government regulations and the American nanny state. Now is the time to allow local residents to break free of government wage controls, government schooling, and government prohibitions.
In their new book The Next Generation of Austrian Economics, editors Per Bylund and David Howden bring together a thirteen young Austrian scholars into a new volume of scholarly commentary on money, banking, capital, risk, entrepreneurship, and more.
For those new to Austrian economics, there are few modern scholars whose work I would recommend more enthusiastically than Salerno’s.
“So let us not talk falsely now, the hour is getting late.” (Bob Dylan, All Along the Watchtower, 1967)
It's much easier to calculate the direct cost of a tax than the many indirect costs of a government regulation. Nevertheless, government regulations remain some of the biggest millstones around the neck of human progress and ingenuity.
