Entrepreneurship – Who's In Charge, Capitalists Or Consumers?

Entrepreneurship - Who's In Charge, Capitalists Or Consumers? by Steven Horwitz, Foundation For Economic Education

Why Entrepreneurship Matters

Opponents of economic freedom have a twisted view of entrepreneurs, imagining them to be greedy exploiters of both workers and consumers. But advocates of free markets can have their own distorted ideas of entrepreneurship. Our vision is often a romantic one. We imagine the heroic businessperson who comes up with a new idea, device, or method; who persists against long odds to bring it to market; and who profits greatly when it revolutionizes an industry. The entrepreneur is heroic — a Doer of Big Things.

As my friend Alexei Marcoux, professor of business ethics and society at Creighton University, pointed out in...