sexta-feira, 27 de julho de 2007

O empresário como adivinho

"Entrepreneurial profit and loss ultimately stem from the uncertainty of the future. If a man buys factors of production for $1,000 and creates a good that he sells for $10,000 one week later, this is an indication that other entrepreneurs were mistaken in their evaluation of the usefulness of those factors of production. Had others been able to anticipate the future revenues from the good, they too would have entered the factor markets and bid up the “cost” of making the good (and lowered its sale price as more units were created).

An entrepreneur earns true profits (over and above what he pays himself as wages for his labor) when he forecasts the future better than others." Study Guide to Human Action, Mises Institute

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