“The entrepreneurs . . . are not infallible and often blunder. But they are less liable to error, and blunder less than other people do.“- Ludwig von Mises
Praxgirl‘s series continues as we learn about entrepreneurship. Using the profit and loss signals is one of the tools used to determine how successful a venture is but not the only one. An individual’s subjective views of the venture is also a consideration.
As always, interesting.
To continue the series, follow the link. https://hessenflow.wordpress.com/2012/04/28/praxeology-economic-progress/