business_center Entrepreneurship
Innovation and business creation
format_quote Quotes
"In a broad or general sense, entrepreneurship actually coincides with human action."
menu_book Socialism, Economic Calculation and Entrepreneurship
View Full Quote"The essential difference between rich societies and poor societies does not stem from any greater effort the former devote to work, nor even from any greater technological knowledge the former hold. Instead it arises mainly from the fact that rich nations possess a more extensive network of capital goods wisely invested from an entrepreneurial standpoint."
menu_book Money, Bank Credit, and Economic Cycles
View Full Quote"What distinguishes the successful entrepreneur and promoter from other people is precisely the fact that he does not let himself be guided by what was and is, but arranges his affairs on the ground of his opinion about the future. He sees the past and the present as other people do; but he judges the future in a different way."
menu_book Human Action: A Treatise on Economics
View Full Quote"Taxes are necessary. But the system of discriminatory taxation universally accepted under the misleading name of progressive taxation of income and inheritance is not a mode of taxation. It is rather a mode of disguised expropriation of the successful capitalists and entrepreneurs."
menu_book Human Action: A Treatise on Economics
View Full Quote"The capitalists, the enterprisers, and the farmers are instrumental in the conduct of economic affairs. They are at the helm and steer the ship. But they are not free to shape its course. They are not supreme, they are steersmen only, bound to obey unconditionally the captain's orders. The captain is the consumer."
menu_book Bureaucracy
View Full Quote"If a merchant knows that goods will soon be cheaper in a particular place, or that supply will increase, he is not obliged to inform buyers of this. It is not unjust to sell at the current market price, since the price is set by common estimation, not by future conditions."
menu_book De Iustitia et Iure (On Justice and Law)
View Full Quoteauto_stories Books
An Essay on the Nature of Trade in General
Pioneering work in economic theory written around 1730, covering entrepreneurship, market pricing, monetary economics, and the circular flow, consi...
Read MoreHuman Action: A Treatise on Economics
Ludwig von Mises' magnum opus and the most comprehensive systematic treatment of economics from the Austrian School perspective. Mises develops pra...
Read MoreSocialism, Economic Calculation and Entrepreneurship
Extends the Misesian impossibility of socialist calculation into a full theory of entrepreneurship, showing that socialism systematically destroys ...
Read Moreperson Authors
psychology Concepts
Kodawari
Kodawari (こだわり) means something like 'meticulous commitment,' 'attention to detail,' or 'refusal to compromise on quality.' It comes from the verb ...
Learn Morebalance Sophisms
A Dividend Is Not Money Destroyed
"Billionaires prefer paying shareholders over hiring: for every euro spent on jobs, LVMH spends 239 euros on shareholders."
Read the rebuttalJob Counts Are Not the Measure of Prosperity
"Billionaires don't create jobs: large corporations cut 173,000 positions while small and mid-sized businesses added 1.9 million."
Read the rebuttalSpeculation Is Not the Opposite of Usefulness
"Billionaires don't finance the real economy: 96% of financial transactions are purely speculative."
Read the rebuttalEmployees Aren't the Only Source of Value
"A business owner can only get rich off the productivity of the people he employs."
Read the rebuttalWorking More Doesn't Create More Value
"A boss doesn't work a thousand times harder than his employees, so he doesn't deserve to earn a thousand times more than them."
Read the rebuttal