Last Resort Entrepreneurship

This article first attempts to de-glamorize entrepreneurship and then lays out a path for advancement, the terminus of which would be entrepreneurship. I also cover a reason side projects are necessities for top performers. Starting a business is expensive and risky. What’s little appreciated is that even successful entrepreneurs often don’t make that much money. … Read more

The Kirznerian Delta: FSR or Abundance?

This article argues that the several concepts of the entrepreneur on Austrian Economics are all lacking, but to varying degrees. I argue that the Kirznerian entrepreneur, partricularly understood, is the closest match to reality, but I attempt to further improve on the concept. Finally, I relate this entrepreneur to economic growth and point out the … Read more

Rational Estimation and Price Under Uncertainty

This article talks about ways to deal with uncertainty, and I will also briefly define the concept in contrast with simple risk. Definitions: Uncertainty vs Risk Rational Estimation without Uncertainty Rational Estimation with Uncertainty 1 – Definitions: Uncertainty vs Risk Uncertainty and risk are both not simple economic phenomena. They are generic elements of complex … Read more

The Real Link Between Technology and Entrepreneurship

In the mind of American culture, and perhaps other cultures as well, technology and entrepreneurship are inextricably linked. One usual explanation is the idea of particularly creative people. These creative people are into creating new inventions and are also able to successfully launch a business due to the same creativity. Another explanation is that technology … Read more