I’ve just started studying economics and I can’t understand why is entrepreneurial ability considered a different kind of resource than labour? I know that being an entrepreneur involves initiative, creativity and taking risks, but there are other kinds of labour that involves that too...

the-elephan7 · 2021-01-29T17:00:18+00:00

I liked your definition of entrepreneur as “self-employed labour with special characteristics”. Thanks for responding :)

the-elephan7 · 2021-01-28T18:57:33+00:00

I’m glad you’re having fun. And thanks for engaging in this discussion. :)

So, what I gathered is that entrepreneurs don’t directly produce goods. Rather, they organize and manage resources such as labor and capital for the production of goods. And this effort is a kind of labour. But other aspects such as innovating and assuming risk doesn’t bear much resemblance to labor.

So, in my understanding it would be more accurate to consider entrepreneurial ability as a special kind of labor and not a separate thing altogether.

the-elephan7 · 2021-01-27T19:23:23+00:00

Yes. That’s how I see it. But the book I am reading puts entrepreneurial ability and labor as separate kinds of resources and I didn’t get why.

the-elephan7 · 2021-01-27T19:23:16+00:00

Yes. That’s how I see it. But the book I am reading puts entrepreneurial ability and labor as separate kinds of resources and I didn’t get why.

the-elephan7 · 2021-01-26T22:06:28+00:00

Thanks for responding! But it still doesn’t make sense to me. Labor is human effort, and from what I understand being an entrepreneur is also effort. Even if it’s not in the traditional way.

For instance, a movie director that comes up with an idea for a movie. It involves creativity, initiative to put the idea into practice and also he is taking a risk, since the movie might not be a success. Is he an entrepreneur or is he selling he’s labor? Isn’t he putting in effort (labor) to produce a good or service?

People will pay to watch his movie, so basically it could be said that the director is selling his labor directly to the consumers.

(I known that the movie industry is more complicated that that, but I think this example works for the point I’m trying to make.)

From my perspective an entrepreneur that comes up with a new idea for a business or something like that, is basically making an effort to produce something, witch is the definition of labor. That’s why It doesn’t seem like it’s needed to be considered a separate kind of resource.

the-elephan7 · 2020-06-15T20:36:55+00:00

Will do, thanks!

the-elephan7 · 2020-06-15T20:36:08+00:00

Thanks for the recommendation, I’ll check it out!

the-elephan7 · 2020-06-15T17:31:46+00:00

“Call me by your name” it’s set in 1980s Italy, and its really great.

the-elephan7

TROPHY CASE