Economia
Author of The Capitalist and the Entrepreneur, Peter Klein has published numerous books and articles on entrepreneurship from an Austrian perspective. Dr. Klein, who is executive director and Carl Menger Research fellow at the Mises Institute, was interviewed in late 2013 by eTalk’s Niaz Uddin on the topic of entrepreneurship:
Niaz Uddin: Tell us about entrepreneurship. What are the different contexts of entrepreneurship?
Peter Klein: The terms “entrepreneur,” “entrepreneurship,” and “entrepreneurial” are used in many ways, not always consistently! On the one hand, entrepreneurship is often used to mean self-employment: an entrepreneur is a person who starts or operates a small business. On the other hand, we also use the term “entrepreneurial” to refer to something broader, a mindset or way of thinking that emphasizes novelty, creativity, and initiative. Obviously one can be entrepreneurial in this sense without being a small-business owner.
In the academic literature, things get even more confusing. Originally the word entrepreneur was identified with decision-making, risk-bearing, and responsibility: entrepreneurs were the business people who organized production, transforming resources into valuable products and services for consumers. That usage goes back to the eighteenth century. More recently, scholars have identified entrepreneurship with narrower activities or functions such as alertness to profit opportunities or the introduction of new goods and services or new ways to make existing products. In my academic writing I adopt the concept developed by the American economist Frank Knight and the Austrian economist Ludwig von Mises which emphasizes judgmental decision-making under uncertainty.
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Economia
Empreendorismo
Entrepreneurship: The Driving Force of the Economy
Niaz Uddin: Tell us about entrepreneurship. What are the different contexts of entrepreneurship?
Peter Klein: The terms “entrepreneur,” “entrepreneurship,” and “entrepreneurial” are used in many ways, not always consistently! On the one hand, entrepreneurship is often used to mean self-employment: an entrepreneur is a person who starts or operates a small business. On the other hand, we also use the term “entrepreneurial” to refer to something broader, a mindset or way of thinking that emphasizes novelty, creativity, and initiative. Obviously one can be entrepreneurial in this sense without being a small-business owner.
In the academic literature, things get even more confusing. Originally the word entrepreneur was identified with decision-making, risk-bearing, and responsibility: entrepreneurs were the business people who organized production, transforming resources into valuable products and services for consumers. That usage goes back to the eighteenth century. More recently, scholars have identified entrepreneurship with narrower activities or functions such as alertness to profit opportunities or the introduction of new goods and services or new ways to make existing products. In my academic writing I adopt the concept developed by the American economist Frank Knight and the Austrian economist Ludwig von Mises which emphasizes judgmental decision-making under uncertainty.
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- Escola Austríaca - Introdução
Austrian Economics – A Primer Written by Dr. Eamonn Butler | Thursday, August 19th, 2010 Austrian School economists gave us the ideas of marginal utility, opportunity cost, and the importance of time and ignorance in shaping...
- Economia De Mises
Introduction: The Economist as System Builder: Ludwig Von Mises and the Architect of Economic Science and Political Economy Peter J. Boettke George Mason University - Department of Economics Peter T. Leeson George Mason University - Department...
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Steve Mariotti Founder, Network for Teaching Entrepreneurship GET UPDATES FROM STEVE MARIOTTI Like 113 The Economic Philosopher's Outcast: Mises Mises' most remarkable argument for the free market came...
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Taxation & Bureaucracy: Whether you are an investor, and especially if you are an entrepreneur, this is no doubt a major downside and one of the more challenging aspects of doing business in Brazil. The Brazilian tax system is heavy, hugely cumbersome,...
- A Ciência Econômica No Caminho Errado
Saving Economics from the Economists Saving Economics from the Economists by Ronald Coase Economics as currently presented in textbooks and taught in the classroom does not have much to do with business management, and still less with entrepreneurship....