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by Foundation for Economic Education

1. How does Schumpeter describe an entrepreneurial act? What does he mean by creative destruction?

2. How does Knight make the distinction between risk and uncertainty? What does it mean that the entrepreneur bears the uncertainties of the enterprise?

3. Explain Kirzner’s view of the entrepreneur and describe the role of entrepreneurial action in bringing about greater harmony in the market

EoE: 1.5.B - Dr. Alexei Marcoux on Defining Entrepreneurship

Dr. Alexei Marcoux (Loyola University Chicago) compares and contrasts three major conceptions of entrepreneurship from economists Joseph Schumpeter, Frank Knight, and Israel Kirzner. This video is included as part of a 40-lesson course on the Economics of Entrepreneurship available now for teachers and students at no charge at FEE.org/Courses.

from 1.5B Dr. Alexei Marcoux on Defining Entrepreneurship (2016)
Creator: Center for Ethics and Entrepreneurship
Posted by Foundation for Economic Education
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