Top positive review
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Still the best treatment of uncertainty for management and entrepreneurship
on September 7, 2016
This is one of the most important books on economics written in the 20th century. Frank Knight was tasked by his PhD advisor to sort out the differences between risk and uncertainty and how they related to entrepreneurship and firm management. He did. Nobody has surpassed this treatment in the century since Frank Knight penned it in 1917 as his doctoral dissertation. This is verbal treatment of the subject, not a mathematical treatise. The argument is sound, but often subtle. The current volume that I am reviewing is the sixth or seventh time I have read the book and, as always, I found something new to take away. I teach entrepreneurship to undergraduates and to graduate students and i enjoy bringing Knight's insights into the classroom.