Entrepreneurial Spirit, Discovery, Originary Interest, And Theory.

The entrepreneurial spirit which leads to discovery does not necessarily translate into an act of entrepreneurship. In a sense it is like savings, it can exist or it can exist as capital. Capital is the active form of savings.

To assume away the entrepreneurial quality of discovery because it has not yet combined with the bearing of risk is like assuming away savings as the origin of capital because sometimes it does not serve as capital.

This brings time preference into the discussion. Time preference is part of the human reality and it is a natural outcome of originary interest. Discovery is directly related to originary interest since it explains why people take action in the present. Humans do, indeed, place a high valuation on the present. High time preference of a degree that approaches instantaneous does not make irrelevant time preference theoretically.

Twitter @DivineEconomy

https://www.rebelmouse.com/Bruce_Koerber/

http://bruce-koerber.squarespace.com

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s