The Entrepreneur

As technology and AI grow more sophisticated, people commonly believe that they also are eliminating uncertainty. Nothing could be further from the truth.

The common belief is that intellectual property rights must be in place, otherwise, entrepreneurs would be reluctant to face uncertain profitability. Well, entrepreneurs already face uncertainty and act, anyway.

The common belief is that intellectual property rights must be in place, otherwise, entrepreneurs would be reluctant to face uncertain profitability. Well, entrepreneurs already face uncertainty and act, anyway.

Thanks to the Fed’s creation of asset bubbles, the US economy is producing many billionaires. However, the savvy entrepreneur is becoming increasingly scarce.

Thanks to the Fed’s creation of asset bubbles, the US economy is producing many billionaires. However, the savvy entrepreneur is becoming increasingly scarce.

Entrepreneurship is a voluntary undertaking that causes change by providing value. No force, no threats, and no coercion are involved. It is market action fully in line with our libertarian ideals. And it provides alternatives, and produces variety.

In this issue of The Misesian, Patrick Newman explores the many ways that Rothbard remains relevant to current economic and political controversies. And other articles, all of which are in the Rothbardian tradition of advancing the scholarship of freedom and sound economics.

Entrepreneurship is a voluntary undertaking that causes change by providing value. No force, no threats, and no coercion are involved. It is market action fully in line with our libertarian ideals. And it provides alternatives, and produces variety. 

Conflict over the natural world often originates in people’s different conceptions of how the natural world can and should be used. Entrepreneurship in a free market helps settle these conflicts peacefully, without one group using the power of the state to force its preferences on others.

America has a long history of vibrant small business. But small business went into decline in the twentieth century, and it wasn't just due to large scale industrialization. Government has played a big role.