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A Few Thoughts on the Role of the Entrepreneur

Cato Podcast

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The Uncertainty of Entrepreneurship

The entrepreneur was called by Frank Knight and earlier by David Ricardo, the residual claimant. They get their reward after all the hireable factors of production have been paid off. Then if there's anything left over, it goes to the entrepreneur. What's the problem? Again, you see it's a version of thinking that business is easy.

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