Liberty, Prosperity, Entrepreneurship, and the Freedom to Fail


Scientific, technological, and economical progress requires trial and error, and sometimes failure. Many individuals, however, seek to improve society by eliminating or "overcoming" the risks that citizens face. The conference examined the relationship of risk taking and failure to a free society.


From Liberty Fund

Competition and Entrepreneurship

by By Israel M. Kirzner
Edited and with an Introduction by Peter J. Boettke and Frédéric Sautet

Competition and Entrepreneurship defines Israel M. Kirzner’s unique contribution to the economics profession. Pointing out the shortcomings of the traditional microeconomic model, Kirzner offers an alternative and complementary view, which illuminates and enriches the way economists think of the market process. Kirzner develops a theory of the market process that…

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Additional Readings

There Will Be Blood. Directed by Paul Thomas Anderson. Miramax/Paramount Vantage: Santa Monica and Los Angeles, 2008. DVD.

Tucker - The Man and His Dream. Directed by Francis Ford Coppola. Paramount: Los Angeles, 2000. DVD.

Baumol, William J., Robert E. Litan, and Carl J. Schramm. Good Capitalism, Bad Capitalism, and the Economics of Growth and Prosperity. New Haven: Yale University Press, 2007.

Dweck, Carol. Mindset: The New Psychology of Success. New York: Random House, 2006.

Harford, Tim. Adapt: Why Success Always Starts with Failure. New York: Farrar, Straus and Giroux, 2011.

Mokyr, Joel. The Enlightened Economy: An Economic History of Britain 1700-1850. New Haven: Yale University Press, 2010.

Ridley, Matt. The Rational Optimist. New York: HarperCollins, 2010.

Schumpeter, Joseph A. Essays: On Entrepreneurs, Innovations, Business Cycles, and the Evolution of Capitalism. Edited by Richard V. Clemence. Piscataway: Transaction Publishers, 1989.