Uncertainty, Discovery, and Human Action:

A Study of the Entrepreneurial Profile in the Misesian System

Abstract

The author examines the degree to which the Misesian entrepreneurship should be perceived as a product of uncertainty. The tension between this uncertainty and the above error corresponds exactly to the disagreement between those who see the Misesian entrepreneurship as a bearer of uncertainty in the market and those who see it as the discoverer of the previous errors in the market. For the author, this apparent tension illuminates some subtleties in the concept of entrepreneurship. The individual entrepreneurial action and systematic market forces, driven by freedom of entrepreneurial discovery and innovation, contributing to human imagination to achieve nothing less than the liberation of humanity from the chaos of complete mutual ignorance.