Entrepreneurship – the fundamental question for economists and business theorists alike.
Given the reasoning of the members of the ‘American Psychological School’, such as John Bates Clark, Frank Fetter, and Herbert Davenport, what was so unique and interesting about Frank Knight’s take? That’s a question few, aside from Ross Emmett, have tried to answer. Most of those commenting on Knight presume he was unique and without fore-running influences, which is absurd.
Inter alia, we wonder where the term ‘Knightian uncertainty’ came from, plainly not from Knight himself. Yet it is central to much of the discourse today, especially when the work of Maynard Keynes and George Shackle is taken into account. Right now it seems Nicholas Georgescu-Roegen coined the term around 1956. But can this really be true ?
Aside from this research program, there are now two Cambridge Elements lists under way – business strategy AND business history.