Unit 8: Profit and Loss
Unit 8 explains Mises' conception of capitalism as an entrepreneurial system, and not a managerial system, by elaborating on the economic significance of profit and loss in a market system. Capitalism is predicated upon the ability of individuals to perform economic calculations of profit and loss on their capital and property, as it is these decisions which allow for the rational planning of production, and for the coordination of work among various factors of production.
Completing this unit should take you approximately 3 hours.
8.1: Capitalism Lecture
8.2: Capitalism Discussion
8.3: Capitalism Review