Abstract

What is the difference between entrepreneurship and altruism? This paper argues that the two differ only in degree, not in kind. Entrepreneurship, in its most generic form, is an expression of freedom in the economic realm and is therefore as deserving of zealous protection as is free speech. Furthermore, entrepreneurial success is as much the result of contingency as it is of design, and entrepreneurial failures vastly outnumber successes; these two issues point to the fairness of the entrepreneurial process.