Jeff Deist recently argued the case for economics over politics in his talk “Markets vs. Mobs.” I believe markets will prevail, and here’s why. Our resource is not “science” but knowledge. It accumulates, perhaps at an exponential rate. Mises.org is one of the great consolidators of knowledge, attracting many more people than ever before (620,000 unique […]
Podcast Transcript: Conversation With Economist Dr. Per Bylund; August 11, 2020 Listen to the full episode here. Hunter: Per, welcome again to Economics for Entrepreneurs. Per: Thanks for having me on again, Hunter. Hunter: You’re very generous in the consulting help that you give to entrepreneurs and all kinds of businesses and in your student […]
In chapter 8, Rothbard establishes the principles of what he calls the progressing economy, one in which gross investment in capital goods is increasing, productivity is growing, and firms are making profits, indicating social affirmation that they are deploying resources in the ways best adjusted to the most urgent and evolving consumer needs.
Business strategy and business model design has traditionally been firm-centric. Entrepreneurs are called upon to establish firms, to make the firm the locus of value creation through value proposition design, assembly of resources, and production; and to ensure competitive advantage in comparison to rival firms pursuing the same customers.
Entrepreneurship is the new strategy – for companies big and small, new and old, for individuals and particularly for regulation-compromised institutions like education and healthcare. Is the language of entrepreneurship adequate to communicate its powerful effect on driving economic growth, creating betterment for all, raising productivity and escaping bureaucratic sclerosis? We worry about finding the […]
Entrepreneurship is the intentional pursuit of value. This pursuit fuels the engine of economic growth. The entrepreneurs who achieve the realization of value become folk heroes, and the great firms that create value at scale – Apple, Microsoft, Amazon, Facebook, Google – are stock market heroes. All of this is acceptable wisdom. However, it’s the wisdom […]