The Entrepreneur

From Part V of Defending the Undefendable, “Financial.” Read by Jeff Riggenbach.

"A manager is a junior partner of the entrepreneur, as it were, no matter what the contractual and financial terms of his employment are."

If the critics are right, then Fowler Foods has missed an opportunity to turn a tidy profit by selling grilled chicken.

"The costs of an incorrect view of industrial history can be substantial."

Right now, as the economy reshuffles, there are more opportunities to generate change than ever — the kind of dynamic change that we need to grow out of this slump.

The power of creative energies to manifest themselves in the face of man-made obstacles accounts for the progress we observe even when the worst elements in society get on top

Schumpeter went on to remind the audience that the heart of the capitalist process was its endless dynamism, which was the opposite of Keynesian stagnationism.

The Austrian school is the only school of thought built on a solid foundation. The Austrian school's a priori knowledge is apodictically true, and not subject to time or place.

PDF of Peter Klein’s PowerPoint presentation.

Refusal to substitute dispassionate analysis for moralistic anticapitalistic crusading is unfortunately likely to lead us backward rather than forward.