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11min chapter
Tackling More of Robert Reich’s 'Economic Myths'
The Human Action Podcast
Return for Entrepreneurs in Market Economy
The chapter delves into how entrepreneurs can achieve a return by predicting consumer demand and efficiently organizing production factors, emphasizing that success goes beyond hard work. It contrasts the labor theory of value with free market economics, highlighting how compensation in a market economy is based on marginal contribution rather than just physical effort.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode