Entrepreneurship

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Austrian-Style Entrepreneurship Explains Much of China’s Growth

Blog07/22/2019Hunter Hastings

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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Why Modern Economics' Fixation with "Efficiency" Is Dangerous

EntrepreneurshipOther Schools of ThoughtPhilosophy and Methodology

Blog07/05/2019Per Bylund

Efficiency is backward-looking and static, while value creation is future-oriented and aspirational.

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Non-Renewable Resources Never Really Run Out

The EnvironmentEntrepreneurship

Blog07/03/2019Joakim Book

Supply, demand, and prices affect human usage of natural resources in such a way that the most scarce and valued resources are economized and preserved. The practical effect is that valuable resources never really run out.

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The Rising Importance of the Austrian School to Entrepreneurs

The EntrepreneurEntrepreneurshipHistory of the Austrian School of Economics

Blog07/01/2019Hunter Hastings

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

Blog06/28/2019Per Bylund

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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Is There a Limit to How Big a Corporation Can Get?

EntrepreneurshipMonopoly and Competition

Blog06/27/2019Per Bylund

Natural constraints on firm size are numerous, and in a truly free market, large firms would be constantly prone to being broken up and put out of business by competition. And all to often, huge firms become more long-lived due to government intervention.

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Israel Kirzner on Ethics and the Legacy of Austrian Economics

Book ReviewsEntrepreneurship

Blog06/03/2019David Gordon

Readers will close the volume with admiration for Kirzner’s devotion to Austrian economics, immense learning, and dialectical skill

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Schumpeter vs. Kirzner on Entrepreneurs

The EntrepreneurEntrepreneurship

Blog05/16/2019Samuel Bostaph

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

Blog04/08/2019Ryan McMaken

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.