'Entrepreneurship, as decisive action under uncertain conditions, is at the very heart of a market economy.'

'..economics is a logical, deductive, human science about real people acting in the real world, with all the dynamism, unpredictability, and creativity that entails..'

<blockquote>'..In my academic writing I adopt the concept developed by the American economist Frank Knight and the Austrian economist Ludwig von Mises which emphasizes judgmental decision-making under uncertainty.

..

Unfortunately, most people see economics as a dry, technical subject that involves poring over charts and graphs and writing equations to describe the “equilibrium” behavior of hypothetical actors. But economics is a logical, deductive, human science about real people acting in the real world, with all the dynamism, unpredictability, and creativity that entails. Markets aren’t static, lifeless mathematical constructs but lively, vigorous spaces where people interact and coordinate. Firms, markets, and industries don’t just come into existence by themselves, they have to be created and operated by real people with real responsibility. These people are entrepreneurs, what Mises called the “driving force” of the market economy. That’s one reason I’m attracted to the “Austrian” approach to economics, which has always placed the entrepreneur at the front and center of production and exchange — not an incidental actor who steps in to introduce novelty then fades into the background as the “normal” market process resumes. Entrepreneurship, as decisive action under uncertain conditions, is at the very heart of a market economy.

- Peter G. Klein, Entrepreneurship: The Driving Force of the Economy, 2013</blockquote>


Context Entrepreneurship - '..the calculation problem is much more general than has usually been realized.' - Dr. Peter G. Klein

<blockquote>'..monetary knowledge .. of currency reform under difficult conditions you have to go to Carl Menger.'

Beyond democracy - 'Open source .. to positively change our society..'

(Individual Learning) - 'You determine your own pace. And you don’t go to the next level until you’ve mastered the previous one.'</blockquote>