“Entrepreneurial judgment is one of those things that cannot be bought on the market. The entrepreneurial idea that carries on and brings profit is precisely that idea which did not occur to the majority. It is not correct foresight as such that yields profits, but foresight better than that of the rest. The prize goes only to those dissenters who do not let themselves be misled by the errors accepted by the multitude. What makes profits emerge is the provision for future needs for which others have neglected to make adequate provision.”

in Business, Ludwig von Mises, Writers

-Ludwig von Mises, Human Action: A Treatise on Economics (Auburn: Ludwig von Mises Institute, The Scholar’s Edition, 2008), p. 867.

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