Friday, 25 January 2013

Ludwig von Mises on Education and the Entrepreneur

Ludwig von Mises writes in his book Human Action (p. 311),
In order to succeed in business a man does not need a degree from a school of business administration. These schools train the subalterns for routine jobs. They certainly do not train entrepreneurs. An entrepreneur cannot be trained. A man becomes an entrepreneur in seizing an opportunity and filIing the gap. No special education is required for such a display of keen judgement, foresight, and energy. The most successful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were to their social function of adjusting production to the most urgent demand. Because of these merits the consumers chose them for business Ieadership.
So, no need to despair if you do not have an MBA degree and want to start your own business.

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