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What is Entrepreneurship?

Economics | June 1st, 2004

“…if a formerly good entrepreneur should suddenly make a bad mistake, he will suffer losses proportionately; if a formerly poor entrepreneur makes a good forecast, he will make proportionate gains. The market is no respecter of past laurels, however large. Capital does not ‘beget’ profit. Only wise entrepreneurial decisions do that.”
Murray N. Rothbard

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