Under capitalism, economic power flows not to the intellectual, who manipulates ideas and basks in their light, but to the man who gives himself to his ideas and tests them with his own wealth and work. It is these capitalists,
Read MoreIn contrast to Marx’s automaton capitalist or (Alfred) Marshall’s owner-engineer, the entrepreneur distinguished himself by a willingness to “destroy old patterns of thought and action” and redeploy existing resources in new ways. Innovation meant overcoming obstacles, inertia, and resistance. Exceptional
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