Austrian economics used to be a field of study on the fringes of business. Now, in the digital age and entrepreneurial era, it has moved to the mainstream and more and more leaders are recognizing the power of its different way of thinking,.
It’s hard to think about the coming entrepreneurial revolution because we are conditioned by the current socio-political framework to think that big business and big government are the normal way of doing things.
The entrepreneurs who supply the energy are unified in the principles and practice of creating value. In today’s interconnected world, the customer might be on one side of the globe while the producer is on the other, or the interaction could take place in a village marketplace. It’s all entrepreneurship.
Every company starts as an innovation. Thereafter, the unceasing challenge is to keep innovating because the market continues to change, technology continues to advance and, crucially, customer expectations continue to rise.
EZones provide a new entrepreneurial pathway to reducing poverty in deprived communities, wherever in the world they might be located.
Successful entrepreneurs are Austrians, they just don’t know it yet. This is a famous assertion from Dr. Per Bylund, and we dissect its meaning in the latest Economics For Business podcast.