Volume 14, Number 1; 3-24: Spring 2011. This paper revisits the concept of entrepreneurship, which is frequently neglected in mainstream economics, and discusses the importance of defining and isolating this concept in the context of large, publicly held companies. Compensating for entrepreneurial services in such companies, ex ante or ex
The Free Market 32, no. 8 (August 2014) This article is a selection from “The Ethics of Entrepreneurship and Profit,” a lecture delivered by Prof. Hoppe at the University of Reading, England in June 2014. The capitalist entrepreneur acts with a specific goal in mind: to attain a monetary profit. He saves or borrows saved money, he hires labor,
Volume 11, No. 1 (2008) In the last decades, more and more economists have advanced the idea that significant obstacles impeding economic growth (especially in less developed regions) consist in different market failures, preventing entrepreneurs from taking the necessary actions to exploit profit opportunities: coordination failure. This paper
Volume 11, No. 2 (2008) Entrepreneurs exploit market opportunities and innovate to achieve or maintain strategic advantage over their competitors.In the absence of government regulation, entrepreneurs are free to focus on improving satisfaction of customer wants, for example, by enhancing current goods, supplying new goods, or supplying
Volume 11, No. 2 (2008) Making Poor Nations Rich is a serious attempt to further develop the theory of entrepreneurship. Fourteen chapters of the book cover the most important issues of our time: wealth and poverty of nations, the role of entrepreneurship in economic and human development, economic performance of transitional economies with the
Volume 11, No. 3 and 4 (2008) Mises, Friedrich Hayek, and Murray Rothbard were the main architects of the distinctly Austrian theory of production as it exists today. All three conceived the entrepreneurial function in the actual market economy as presupposing the ownership of property, specifically capital. Yet, many, if not most, contemporary
Volume 12, No. 3 (2009) This paper enlarges Menger’s theory of the origins of money by making explicit the role of entrepreneurship in the theory and by extending the theory to market institutions other than money. Drawing on the research of anthropologists, archaeologists , and historians, the paper considers the origins of three
Volume 16, Number 1 Michael Prowse, the American economics correspondent for the Financial Times of London, has been compared with Henry Hazlitt for the clarity of his thought and prose, and for his use of Austrian insights in his writing. This speech was delivered at the Mises Institute’s 1996 Austrian Scholars Conference at Auburn University.
Volume 17, Number 1 (Spring 1997) No living economist is as closely identified with the Austrian School as Israel M. Kirzner, professor of economics at New York University, a leader of the generation of Austrians after Mises and Hayek, and an adjunct scholar of the Mises Institute. He wrote his dissertation under Mises, later published as The
Back in the 1980s, Irwin Schiff, anti-tax activist, political prisoner, and father of free-market pundit Peter Schiff, wrote a marvelous comic book titled How an Economy Grows and Why It Doesn’t , which teaches economic principles through a light-hearted story. The comic starts with three islanders — Able, Baker, and Charlie — who live off of
What is the Mises Institute?
The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.