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.
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.
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.
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.
We take so many things that make daily life easier for granted. But entrepreneurs are usually behind what often amounts to revolutionary changes.
The 2019 Henry Hazlitt Memorial Lecture, sponsored by Hunter Lewis.
T.R.M. Howard was an entrepreneur and civil rights leader who offers a corrective to overly simplistic narratives about the civil rights era and African-American history more generally.
When Mises noted that a manager is a "junior partner" of the entrepreneur, he did not mean to downplay the role of management in the economy.
The rich get rich by virtue of making what's dear rather cheap, thus helping the poor the most.
