• 6. Profit, Loss, and the Entrepreneur

  • 2007/06/14
  • 再生時間： 1分未満
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6. Profit, Loss, and the Entrepreneur

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  • Causal-realist analysis allows imaginary constructs like the ERE — Evenly Rotating Economy — in order to isolate certain factors like interest.  There would be no profit or loss in the ERE, because those can only exist under conditions of uncertainty.

    Klein explains profit as a category, not a line item. The entrepreneur’s function is to experiment with combinations of factors of production to find those that produce the greatest economic value.

    The sixth in a series of ten lectures, from Fundamentals of Economic Analysis: A Causal-Realist Approach.

    Download the MP4 video.
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あらすじ・解説

Causal-realist analysis allows imaginary constructs like the ERE — Evenly Rotating Economy — in order to isolate certain factors like interest.  There would be no profit or loss in the ERE, because those can only exist under conditions of uncertainty.

Klein explains profit as a category, not a line item. The entrepreneur’s function is to experiment with combinations of factors of production to find those that produce the greatest economic value.

The sixth in a series of ten lectures, from Fundamentals of Economic Analysis: A Causal-Realist Approach.

Download the MP4 video.
続きを読む 一部表示

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