Entrepreneurship – the fundamental question for economists and business theorists alike.
A bit of a lull, but major progress on the Special Issue on Frank Knight. We’re off to the races.
In the meantime I have been re-working, once again, my understanding of Knight’s best-known work Risk, Uncertainty, and Profit.
Bottom line, the idea that it is some kind of a manual for ‘decision-making under uncertainty’ proves obscuring rather than clarifying. It cannot be understood without reference to the earlier works of those Knight cites extensively in the book – specifically J. Bates Clark, Herbert Davenport, and Frank Fetter.
Aside from the ever ongoing Knight-oriented research, there are now two Cambridge Elements lists under way – business strategy AND business history.