In the real world why are all capitalists by Dr. Robert Murphy @Mises

Question 38 / 96: In the real world, why are all capitalists also entrepreneurs?

Answer:

In textbooks we neatly isolate the various functions (entrepreneur,

capitalist, laborer, landowner, etc.). However in reality,

an entrepreneur is ultimately someone who surveys the status

quo and takes risky or uncertain actions to strive for a better

future. Specifically, anyone who invests in a venture is acting

as an entrepreneur, because the capitalist must believe in the

project and stands to lose everything if the forecast is wrong.

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Capitalism: The Market Economy

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Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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