Reply To: A question about the entrepreneur


It seems to me that Gilder’s view of the entrepreneur has more affiliation with the view of Schumpeter than either that of Mises or Kirzner.

I agree with Mises that the entrepreneur’s creativity is constrained in a market economy by what other people will make profitable. Of course, entrepreneurs make production decision and offer the goods they produce for sale, but what they produce must be salable to other people otherwise, they fail as entrepreneurs. The market economy is concerted effort on the part of people to better satisfy their ends. So I don’t see that Gilder is making a useful distinction when he contrasts the entrepreneur with the market.

Take a look at Peter Klein’s book, The Capitalist and the Entrepreneur.