Entrepreneurship is a hot new study area in academia, with devotees of the Austrian school Peter Klein and his student  Per Byland extending the work of Ludwig von Mises, Israel Kirzner, and Murray Rothbard. I’ve told Professor Klein that I have my doubts about the teaching of entrepreneurship. I’ve known, done business with, been partners with, and now work for an entrepreneur. None of them on a day-to-day basis seem necessarily alert or searching for discrepancies. They just wake up every day wanting to “hit a lick.” Academics have time for theoretical cogitation, for instance, arguing that entrepreneurship is Kirzner’s “alertness … Continue reading Gold!