Entrepreneurship – the fundamental question for economists and business theorists alike.
Item 1: Call for the Special Issue on Frank Knight now up on the Strategic Change journal’s website.
In the meantime, Item 2, I have been re-working, once again, my understanding of Knight’s best-known work Risk, Uncertainty, and Profit.
Bottom line, the idea that it is some kind of a manual for ‘decision-making under uncertainty’ proves obscuring rather than clarifying. It cannot be understood without reference to the earlier works of those Knight cites extensively in the book – specifically J. Bates Clark, Thomas Carver, Herbert Davenport, and Frank Fetter. – among several others ignored today.
Importantly, Knight’s incompletely expressed ‘theory of the firm’ provokes a different approach to ‘business ethics’. That is opening new doors for me.
Aside from the ever ongoing Knight-oriented research, there are now two Cambridge Elements lists under way – business strategy AND business history.