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 "rec_id": "media-ludwig-von-mises-in-one-lesson-what-is-the-role-of-the-capitalist-entrepreneur-in-austrian-economics",
 "course": "ludwig-von-mises-in-one-lesson",
 "title": "What is the role of the capitalist entrepreneur in Austrian Economics?",
 "speaker": "Murray N. Rothbard",
 "source_file": "media/Ludwig von Mises in One Lesson/What is the role of the capitalist entrepreneur in Austrian Economics_ Murray N Rothbard.mp3",
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 "language": "en",
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 "generated": "2026-08-05T06:32:32Z",
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 "text": "And so the capitalist entrepreneur in Austrian theory earns a two-part return. One, as an entrepreneur by forecasting better than the next guy, and be able to forecast the future, forecast what demand will be for his product, what cost will be. And also, two, as a capitalist saving up money and then paying workers right now in advance of their production and sale, for which the workers, in a sense, pay him a discount. They pay him the interest return. And they're happy to do it because they don't have to wait five years for payroll. So these are the two basic functions of a capitalist entrepreneur. Entrepreneurship and capital saving investment.",
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   "text": "And so the capitalist entrepreneur in Austrian theory earns a two-part return.",
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   "text": "One, as an entrepreneur by forecasting better than the next guy,",
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   "text": "and be able to forecast the future, forecast what demand will be for his product, what cost will be.",
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   "text": "And also, two, as a capitalist saving up money and then paying workers right now in advance of their production and sale,",
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   "text": "for which the workers, in a sense, pay him a discount. They pay him the interest return.",
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   "text": "And they're happy to do it because they don't have to wait five years for payroll.",
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   "text": "So these are the two basic functions of a capitalist entrepreneur.",
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   "text": "Entrepreneurship and capital saving investment.",
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}