The Entrepreneur

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What Adam Smith Missed in His Understanding of the Division of Labor

The EntrepreneurFree MarketsOther Schools of Thought

Blog08/26/2019

Population growth and specialization are not enough to make economies grow. The key ingredient is entrepreneurship.

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The Rise of Woke Capitalism

Bureaucracy and RegulationThe Entrepreneur

Blog07/25/2019

It is highly unlikely that Woke Big Business on its own can turn the US into a totalitarian society. Historically speaking, business policies have followed the lead of governments, not the other way around. The state remains the real threat.

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Austrian-Style Entrepreneurship Explains Much of China’s Growth

The EntrepreneurEntrepreneurship

Blog07/22/2019

For centuries, entrepreneurial talents in China were diverted to military wars, political struggles, and government services. But now things are changing.

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Privateers: An Example of Private-Sector Military Defense

The EntrepreneurU.S. HistoryWorld History

Blog07/10/2019

One of the most instructive of all examples from maritime history is that of privateering, that is, the employment of profit-seeking, private armed ships during wartime.

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The Rising Importance of the Austrian School to Entrepreneurs

The EntrepreneurEntrepreneurshipHistory of the Austrian School of Economics

Blog07/01/2019

There is a field where Austrians are being heard and where Austrian theory is tremendously influential, and that field is dynamic entrepreneurial capitalism.

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Returns, Refunds, and Opportunity Cost

The EntrepreneurEntrepreneurship

Blog06/28/2019

A business owner who cannot understand why a customer is not happy — or even very disappointed — with getting a full refund for a faulty product has failed to grasp some very fundamental economic concepts.

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Three Ways Capitalists Make Workers Better Off

The EntrepreneurLabor and Wages

Blog06/07/2019

Capitalists provide a service to workers: access to capital with no risk, and immediate payment for services. Meanwhile, starting your own business brings both risk and a long wait before the profits start rolling in.

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Want More Investment and Entrepreneurship? Protect Private Property

The EntrepreneurGlobal Economy

Blog06/03/2019

Africa has plenty of hard workers and plenty of natural resources. But private property is not secure there, which means few are willing to invest their capital there.

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Schumpeter vs. Kirzner on Entrepreneurs

The EntrepreneurEntrepreneurship

Blog05/16/2019

A comparison between the two theories of entrepreneurial action suggest that it may be time to drop the use of the words “equilibrium” and “disequilibrium” from economics.

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How Capitalists — Unlike Environmentalists — Make Life Easier for the Disabled

The EntrepreneurEntrepreneurship

Blog04/08/2019

Many products — delivered by the marketplace — that are mocked as "useless," and which environmentalists denounce as "wasteful" are essential items in the daily lives of many disabled people.

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