Israel Kirzner's Theory of Entrepreneurship - Austrian Economics with Steve Horwitz

[@BinanceUSD]

Really good summing up of Mises work

[@bjrnhagen4484]

One of the entrepreneur's tasks is to take advantage of scientific and technological development and transfer them into goods and services for people in general. For example, the steam engine, which has been known since the Romans, functioned in the absence of entrepreneurship largely throughout history as a toy for intellectuals and rulers. In other words, inventions in themselves are not sufficient to result in something that can be utilized in society _(I do not know how many times I have heard that the industrial revolution was not due to economic freedom, but due to technological progress)._ From our own time, we all remember Paul Krugman's remark about the internet and how insignificant it would be in the future. Luckily, we had enough economic freedom to prove him wrong. We can all be happy that it is no longer intellectuals, or the ruling elite, who make decisions about what is useful for us and not, though, they try hard to regain that power. Intellectuals, whose task is to explain, among other things, what is happening in our society, have completely failed to understand entrepreneurship and what a businessman does, and rather portray him as an exploiter. An attitude that in turn leaks into our culture in the form of general hostility towards businesses and businessmen.

[@robert5897]

Wonderful person. Rest in peace, Steve

[@MisesCelebrations]

Excellent intro to Kirzner and Mises on this important topic.