Understanding The Unrealized requires us as entrepreneurial businesspeople to think better, and to resist settling for what is merely feasible in a regulated, risk-mitigated world. We must ask what could be possible in a different world, and act on that basis. Sound economics supports such action. Per Bylund takes us through his thinking about The Unrealized.
Steve Denning explains how mainstream economics doesn’t understand technological change. Austrian economics, on the other hand, has always explained and embraced technology’s dynamics.
Austrian economics has a lot to say about how to organize firms for maximum value generation. Austrian principles point to the delegation of entrepreneurial judgement to the front-line employees who interact directly with those who actually create value: users.
Compounding in Einstein’s eighth wonder ion the world. Make sure you earn it, not pay it.
Saifedean Ammous is a knowledge entrepreneur. He creates new knowledge that’s valued by his customers, because it helps them to think better and better informs their actions. He carefully appraises the knowledge provided by great thinkers of the past, and re-presents in a newly compelling fashion. He develops effective memes and ideas. He innovates in channels and distribution. He demonstrates how knowledge entrepreneurship can work in the 21st Century’s globally-connected and digitally-connected economy. He joins the Economics For Business podcast to share some of his learnings and experiences
The economy is the utilization of real resources by real entrepreneurs and real businesses to serve real customers. Government bureaucrats and regulators don’t think this way, and that’s a big reason for the irrationality of their policies and actions.