Value is not derived from functional use, but is the good feeling the consumer experiences during consumption. Consistent with the Austrian understanding of the market as a process, value is a process.
Entrepreneurial economics drives the market economy and improves the standard of living and quality of life for everyone in society. It’s the economics to know.
Joseph Schumpeter was famously pessimistic about the future prospects of capitalism. He couldn’t have anticipated the internet, open source software, IoT, and downloadable business models.
There’s a middle class of businesses that are the backbone of the economy. Professor Saras Sarasvathy coined that term, and we’re pleased to adopt it. These businesses sit between the big corporations of the major stock indexes and the VC-funded gazelles and unicorns of Silicon Valley and Silicon Hills. The watchwords for these backbone businesses […]
Value is a cyclical process. Innovative business model designs reflect the cycle, bringing new value to every stage for all participants and partners.
Bill Sanders, an expert in contract negotiation in business, applies Austrian Principles in dealmaking and business relationship management.