Political and Economic Entrepreneurship: Freedom Depends on the Latter
Entrepreneurship involves individual’s active intention of achieving social and material success. This success can be achieved in different ways and have different sources. However, the common feature is that the individual, inclined to maximize social and material success, enters into active competition to gain advantages in achieving such success with other members of the community. In the process of competing, the individual is forced to develop and use creative, cognitive, and organizational abilities to the maximum extent possible.
Such individual characteristics distinguish the most proactive social members of any group of social chordates. The struggle for overall leadership or niche dominance requires extraordinary abilities to compete. This is especially evident in the social processes of higher primates, where cognitive abilities result in a greater range of strategies and tactics, as well as ones that are more complex and of a multicomponent nature.
Economists have until recently neglected data from biology, neurobiology, cognitive science, anthropology, and psychology in their implications and assessments, making their models and conclusions “supposedly” original. However, other social and biological sciences have significantly supplemented economic concepts with evidence, confirming and simultaneously balancing many economic theories and models. What economic theory needs is a correct interpretation of the behavioral patterns explained by the biological and other sciences in the context of economics, sociology, and political science.
Entrepreneurial intention, as the pursuit of the greatest social and material success, is characteristic of any community and society, and is realized through obtaining the greatest amount of goods or social influence or, as a rule, both. There are always more enterprising members of a community than others. They set more ambitious social and material goals, they are more willing to take risks, and they have the most rational thinking to better assess the potential risks and benefits of achieving their goals. As a result, their success affects the life and prospects of the whole community in one way or another, because the social and material exchanges between these proactive individuals and other com
Article from Mises Wire
