There are some economic principles that can help entrepreneurs in their business-building endeavors. One is the understanding of ends and means. What ends (goals, objectives) are your customers …
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Introducing Economics for Entrepreneurs
The Mises Institute is launching a new podcast with the title Economics For Entrepreneurs. Why should you listen? The entrepreneur is the central hero in the dynamic order of Austrian …
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Where’s The Profit In Digital Innovation? It’s In Reduced Transaction Costs.
Economists tend to use weird and unhelpful language. One of their terms is Transaction Costs and these things are really important. They’re the reason why firms exist at all, and they’re the reason …
Entrepreneurs Bring Economic Progress – Which Is Far More Important To People Than GDP Growth.
Economists tend to represent economic growth as growth in the level of income and of GDP. But economic progress is far broader than that, and to focus on GDP growth is to ignore the most important …
Entrepreneurial Initiative Beats Corporate Innovation Process Yet Again. When Will They Ever Learn?
According to the Wall Street Journal, Altria, maker of Marlboro and other cigarettes, is planning to invest in Juul, maker of a cigarette alternative which vaporizes nicotine-containing liquids. These …
Here’s How Small Business Will Take Over The Planet.
Small business generates about 45% of US GDP, provides close to half of the jobs in the US Economy, and, in a typical year, accounts for more than 60% of the new job creation. That all adds up to …
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