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entrepreneurial profit

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Journal Article
History of Political Economy (2016) 48 (4): 733–740.
Published: 01 December 2016
... to voluntary ones. Finally, we show that Mises considers cases beyond their strict monetary results and refers to entrepreneurial profits as being primarily psychic in nature. As a result, Mises is able to offer an explanation for why forced transactions create no net benefit, but voluntary ones cannot...
Journal Article
History of Political Economy (2023) 55 (3): 523–547.
Published: 01 June 2023
... and anticipating likely outcomes. Kirzner exposed the alertness, the main component of entrepreneurial action, through narratives. Alertness is assumed for all individuals, cannot be modeled mathematically, and can explain, in retrospect, different degrees of entrepreneurial success based on the profits...
FIGURES
Journal Article
History of Political Economy (1979) 11 (2): 271–285.
Published: 01 June 1979
... to the entrepreneurial function. Early theories of entrepreneurship are presented in chapter 2 of Knight’s Risk, Uncertainty and Profit; and for an excellent study of the historical rise of eco- nomic enterprise, see Dobb 1925. 4. Menger 1950, p. 24; emphasis added. Martin...
Journal Article
History of Political Economy (1983) 15 (1): 92–105.
Published: 01 March 1983
... occurred, an equilib- rium would result in which entrepreneurial profits would be zero (H356). The information would be embodied in all economic decisions. Thus, the competitive market is an effective information-diffusing mechanism. Profits not only aid the automaticity of the selective...
Journal Article
History of Political Economy (2016) 48 (4): 741–745.
Published: 01 December 2016
... 2016 Ludwig von Mises Michel de Montaigne zero-sum game entrepreneurial profit References Mises Ludwig von . (1949) 1996 . Human Action: A Treatise on Economics . San Francisco : Fox & Wilkes . Kuscevic Montero Martín Casto del Río Rivera Marco Antonio...
Journal Article
History of Political Economy (1999) 31 (1): 1–28.
Published: 01 March 1999
.... In On the History and Method of Economics . Chicago: University of Chicago Press. Knight , Frank H. 1942 . Profit and Entrepreneurial Functions. Journal of Economic History 2 ( supplement ): 126 -32. Knight , Frank H. [1951] 1956 . Economics. In On the History and Method of Economics...
Journal Article
History of Political Economy (2015) 47 (2): 335–341.
Published: 01 June 2015
... entrepreneurial profit and loss are favorable to some members of society and unfavorable to others. Hence, people concluded, the gain of one man is the damage of another; no man prof- its but by the loss of others. This dogma was already advanced by some ancient authors. Among modern writers...
Journal Article
History of Political Economy (1993) 25 (2): 382–388.
Published: 01 June 1993
... into supply-side economics. (Obviously he was a conservative; Paul Samuelson has gone further and dubbed him a reactionary. See Schumpeter: A Biography [151 How do the major sociological articles fit into his theoretical core? The tax state must be care- ful to tax entrepreneurial profit lightly...
Journal Article
History of Political Economy (1996) 28 (1): 57–76.
Published: 01 March 1996
... Economy 87.4:7 1948. Kilby, Peter. 1983. An Entrepreneurial Problem. American Economic Review 73.2: 107-1 1. Lrzner, Israel M. 1973. Competition and Entrepreneurship. Chicago: University of Chicago Press. . 1979. Perception, Opportunity and Profit. Chicago: University of Chicago...
Journal Article
History of Political Economy (1990) 22 (4): 697–720.
Published: 01 November 1990
..., opportunity, and profit: studies in the theory of entrepreneurship . Chicago: University of Chicago Press. Kirzner , Israel M. 1980 . The primacy of entrepreneurial discovery. In Prime mover of progress: the entrepreneur in capitalism and socialism , edited by A. Seldon, 3 -28. London: Institute...
Journal Article
History of Political Economy (1991) 23 (3): 419–429.
Published: 01 September 1991
... than real value, the difference was manufacturer’s profit (Steuart 1805, 244-245). 428 History of Political Economy 23:3 (1991) Quesnay recognized the existence of entrepreneurial profits both in agriculture and in manufacturing, he reconciled this with his view that agricultural rents...
Journal Article
History of Political Economy (1989) 21 (3): 521–536.
Published: 01 September 1989
... the role of capitalist or laborer with which the entrepreneurial role comes packaged in the real world” (Percep- tion, opportunity, and profit, Chicago, 1979, p. 42). 3. Schumpeter, History, 555. 4. Ibid., 554. 5. ‘Towards the understanding of an unfortunate legacy’ Kyklos 19 (1960): 709-18...
Journal Article
History of Political Economy (1976) 8 (1): 83–94.
Published: 01 March 1976
... himself emphasizes (GT, pp. 77-78), the focus of the analysis is once again on entrepreneurial profits, which act as the motive force of the economy. And once again these profits are described by the difference between a demand price and a supply price-albeit “aggregate prices,” which...
Journal Article
History of Political Economy (2023) 55 (2): 317–351.
Published: 01 April 2023
... to which leading entrepreneurs need to possess rare traits is debatable, while noting that “it is immensely difficult to find such people in sufficient amounts” (Schmoller [1908] 1978: 498). For Schmoller, the root cause of entrepreneurial drive is the pursuit of profit; he considers...
Journal Article
History of Political Economy (1987) 19 (4): 525–550.
Published: 01 November 1987
... counted “public works as also produ~tive The only real mediator between Physiocrats and disciples of Smith was the eclectic author Germain Gamier. In his 1796 manual, he already stressed the division of labor, capital accumulation, and entrepreneurial profit. Yet he persistently stated...
Journal Article
History of Political Economy (1980) 12 (4): 489–498.
Published: 01 November 1980
... Knight, succeeded in infusing him with life and in assigning to him a specific area of activity to any extent commensurate with his acknowledged importance. In lighter vein, another commentator, Kilby (1971), notes: The search for the source of dynamic entrepreneurial performance has...
Journal Article
History of Political Economy (1985) 17 (2): 223–244.
Published: 01 June 1985
... to use them, and so on. Revisions in the saving-consumption and resource-supply plans of house- holds cause a greater than usual proportion of entrepreneurial expectations to go unfulfilled. Although some entrepreneurs make their profits quickly and withdraw, others get pleasantly surprised...
Journal Article
History of Political Economy (1990) 22 (4): 677–696.
Published: 01 November 1990
.... 1949 . George Tarde and Joseph Schumpeter: a similar vision. Explorations in Entrepreneurial History 1 . Ziegler , C. A. 1985 . Innovation and the imitative entrepreneur. Journal of Economic Behavior and Organization 6 . History of Political...
Journal Article
History of Political Economy (1979) 11 (2): 199–212.
Published: 01 June 1979
.... Moreover, Darwin had an explanation for the existence of intramarginal rents as parts of entrepreneurial profits, which may be unsatisfactory but is an improvement over Je- 30. Minard (1850). This paper was written in 1831-32. 31. Jevons (1970), p. 237. 32. Minard (1850), ch. 5...
Journal Article
History of Political Economy (1999) 31 (1): 29–52.
Published: 01 March 1999
..., and, to make matters worse, managers often assume a portion of the entrepreneurial function—which is by definition (for Knight) not Emmett / Modernist Impulses in Risk, Uncertainty, and Profit 45 subject to analysis. The Entrepreneur, therefore, must judge the capaci- ties and character of potential...