Source: Ludwig von Mises Institute
by Michael Njoku
“Within the social order, characterized by the division of labor and private ownership of the means of production, there exists instances of human action—purposeful behavior—whose origins consist in the motive and choice to attain one’s ends. In entrepreneurial endeavors this entails outperforming fellow participants in serving consumers. Acting man in his entrepreneurial capacity, striving to expand the boundaries of attractive opportunities available to consumers in the market, much more than his competitors. This could be in the form of differentiated products of better quality, lower prices, or a combination of both.” (11/06/24)
https://mises.org/mises-wire/entrepreneurial-profit-follows-good-decisions-not-exploitation