Nicolai Foss and Peter Klein give a full overview of judgment in chapter 4 of their book Organizing Entrepreneurial Judgment. Foss and Klein present an overview of the economic literature which treats entrepreneurship as judgment and proceed to flesh out the attributes of judgment. They conclude the chapter by suggesting that investments should be the…
Chapter three of Nicolai Foss and Peter Klein’s book Organizing Entrepreneurial Judgment: A New Approach to the Firm takes a detailed look at the opportunity discovery view of entrepreneurship put forth by Kirzner (as we discussed in part 2 yesterday) and compares and contrasts it with the views of those in the Austrian School of…
Foss and Klein dedicate the second chapter of their book Organizing Entrepreneurial Judgment: A New Approach to the Firm to putting forth the best definition of entrepreneurship. Although entrepreneurship studies is one of the fastest growing fields in colleges and universities around the world, FK argue that there is still much work to be done…
Throughout the next couple of weeks I will be blogging through the book Organizing Entrepreneurial Judgment: A New Approach to the Firm by Nicolai Foss and Peter Klein. I am hard pressed to think of a more fitting time for this book to be read. The book’s aim is to integrate the study of entrepreneurship…
Senate Majority leader Harry Reid thinks that the U.S. Olympic Team’s uniforms—made in China as they were—deserve to be burned. He reasons that we have an abundance of unemployed textile workers in this country—why shouldn’t we take advantage of them to manufacture the Olympics uniforms? Wouldn’t that put these Americans back to work?
There are…
The popular humor website “Cracked.com” recently published a thought provoking article entitled “5 Popular Forms of Charity (That Aren’t Helping).” The five charitable activities mentioned were (1) awareness campaigns, (2) donating clothing, (3) choosing your charity based on its overhead, (4) earmarking donations, (5) volunteering after disasters. The author’s arguments for why each of these…
Economist Larry White at George Mason University submitted a thought-provoking written testimony the other day. Discussing the issue of fractional reserve banking before the House Subcommittee on Domestic Monetary Policy and Technology, he made the following claim:
For payment by account transfer, FRB offers a more economic way of providing payment services. A money warehouse…
The title should be no surprise by now. Paul Krugman–arch-Keynesian–is once again misrepresenting what Austrian economics is. Krugman thinks the recent financial crisis can test (and prove) the superiority of Keynes prescriptions for an ailing economy.
Before we delve into the specifics, consider the alternatives Krugman proposes: classical economics (he considers Austrian among them) and…
“My true adversary in this battle,” he said “has no name, no face, no party… it is the world of finance.”
Thus spoke new French President Francois Hollande while campaigning last month. Despite the seeming backwardness of such sentiments, it is no secret that many people actually do feel a degree of animosity toward the…
It was my senior year of high school at Trinity Christian High School. I was required to write a 20-30 page senior thesis throughout the year in order to graduate, and that thesis was required to outline 3 things: my personal religious beliefs, a defense/argument for a particular issue, and (most importantly) how my worldview…
