By Amir Iraji. This appeared at the blog The Daily Economy which is run by The American Institute for Economic Research. Excerpt:
"Some economists have likened entrepreneurs to heroes, praising their role in disrupting industries and driving progress. Joseph Schumpeter, for instance, famously described them as agents of “creative destruction.” This description evokes the image of warriors boldly slaying the dragon of entrenched systems — tearing down outdated structures to pave the way for revolutionary innovation.
Yet Israel Kirzner, a leading economist in the Austrian tradition and a student of Ludwig von Mises, rejected this dramatic portrayal. Instead, he argued that entrepreneurship is about simply noticing opportunities that others overlook. At first glance, this view might seem to downplay the heroism of entrepreneurs. But does it really?
Exploring Kirzner’s ideas through the lens of the Hero’s Journey — a narrative framework developed by Carl Jung and later expanded by Joseph Campbell — reveals that even Kirzner’s entrepreneur is a hero, though in a subtler and less dramatic way.
In this framework, true heroism emerges in uncovering the potential of the unknown and bringing it into the light of consciousness."
"Every breakthrough, whether major or minor, every improvement in living standards, whether transformational or incremental, and every leap forward in human history has been an elixir brought back by entrepreneurs. Their heroic quests remind us that the unknown holds boundless potential waiting to be realized."
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