Mark Packard retweeted
We often assume that institutional solutions are created and imposed top-down but history is full of examples of entrepreneurs creating solutions for other entrepreneurs. @mdpackard and I explain the how of entrepreneurial creation of private institutions. link.springer.com/article/10…
Mark Packard retweeted
"It turns out, of course, that Mises was right." - Robert Heilbroner (1990, "After Communism" in The New Yorker)
"All we know for certain is that the system deteriorated to a point far beyond the worst economic crisis ever experienced by capitalism, and that the villain in this deterioration was the central planning system itself. The conclusion one inevitably comes to is that to whatever extent socialism depends on such a system it will not work."
Mark Packard retweeted
Hayek: “You cannot use statistics to explain the extremely complex structures of society.”
“While I value statistics as information about current events, I think its scientific value is much more limited than American economists have believed.”
Mark Packard retweeted
Heading to #AOM2026?
Join Vishal Gupta and Per Bylund (@PerBylund) for a panel on how Austrian economics can shape management and entrepreneurship research.
Register: events.aom.org/events/aom-20…
Save 50% on the related Research Handbook with code AOM26: e-elgar.com/shop/isbn/978103…
Mark Packard retweeted
🚨 It's just over a month until the submission deadline for the special issue of Strategic Change on the continuing relevance of Frank Knight🚨
@CarmenDorobat @mdpackard
Please get in touch with the special issue editors with any questions you might have!
onlinelibrary.wiley.com/page…
Mark Packard retweeted
Most statehouses only talk about cutting property taxes. On June 2, Florida actually voted to put it on the November ballot🗳️A genuine win for taxpayers! My take on the Florida model, in @EpochTimes features statements from leaders @RonDeSantis @JayCollinsFL & @GovGoneWild who made it happen🔗⬇️
Mark Packard retweeted
Thanks @profgoose for the 🧵& featuring this work with @faubusiness colleague @BryanPCutsinger We find 87.5% of programmatic accreditor-association pairs are legally embedded or identical. In a fresh run of the data this morning, I also find that higher structural entanglement is associated with lower grad rates and higher borrower delinquency. Important context as the committee works through the governance proposals at @usdoegov this week!
Replying to @profgoose
3/ The empirical case underneath that fight just dropped on SSRN. Cutsinger and Terjesen's "Captured Gatekeepers" studies 32 accreditor-association pairs and finds 87.5% are legally embedded within or identical to the trade association they accredit programs for. The proposals are the defense.
Mark Packard retweeted
If you're interested in entrepreneurship, or applied Austrian economics, you'll enjoy Venture Mode by @hhhastings and @mdpackard: venturemode.biz
Mark Packard retweeted
Friends-
I rarely push books but this is a must-read for anyone with entrepreneurial ambition, especially young people.
Written by @hhhastings and @mdpackard, it's a concise and brutal takedown of the MBA "management" fixation in favor of understanding value at every stage from the consumer's perspective. Austrian flavored but not at all arcane or pedantic.
Highly recommended!
amazon.com/Venture-Mode-Admi…
Mark Packard retweeted
Proud to say that @mdpackard's and my article "Towards an entrepreneurial judgement theory: Building the cognitive microfoundations of entrepreneurial judgement" was awarded the International Small Business Journal's "Highly Commended" paper award 2025!
Mark Packard retweeted
Please help spreading the word: the Entrepreneurship Researchers' Exchange is live. With two posts available already! linkedin.com/posts/perbylund…
Mark Packard retweeted
As we open a tenure-track search in Health Adminstration (health economists also welcome to apply) at @faubusiness, a reminder that one benefit is our nearly year-long perfect weather 🌴😎 @FloridaAtlantic
Mark Packard retweeted
Neoclassical models treat competition as an end-state with equilibrium already achieved. But how do we get there? Israel Kirzner restores the missing actor by showing that markets are a process of discovery and error correction.
Mark Packard retweeted
Happy to announce the formation of the new Entrepreneurial Judgment Society—a network of scholars dedicated to furthering the Judgment-based Approach (JBA) to entrepreneurship. 1/
Mark Packard retweeted
Hayek practiced a version of methodological individualism that was NOT atomistic. But the "facts of the social sciences" are what people think and believe -- they are grounded in purposes and plans of actors. What he would call the "economic calculus" or "pure logic of choice". Hayek added to that in his explanation of the market order, that we had to postulate how these choosing individuals learn under alternative institutional arrangements to coordinate their plans with those of other choosing actors pursuing their purposes and plans. Methodological individualism feeds into the compositive method of explaining emergent phenomena. It is also where his emphasis on institutions of law, politics and society come to the forefront of the explanation rather than being hidden the background. See this very nice paper by Bruce Caldwell discussing Hayek and the Economic Calculus -- a project he continued to pursue into the 1960s ... read.dukeupress.edu/hope/art…
Mark Packard retweeted
Interesting: stronger intellectual property protection benefitted incumbents at the expense of potential entrants.
Mark Packard retweeted
Management History Division writes on LinkedIn about a recent paper of mine (co-authored with @mdpackard): "Back to the Future: Can Counterhistory Accelerate Theoretical Advancement in Management?" linkedin.com/posts/managemen…
Mark Packard retweeted
Job displacement is the entire bull case for AI valuations.
The vast majority of AI revenues will be a reallocation of dollars from human capital to compute.
Humans will find other work that is uniquely suited for our skills, as we have done throughout history.
Influencers didn’t exist 100 years ago.
Job displacement is real concern.
We are only debating the timelines, and what jobs these individuals will eventually be trained for.
The three categories below represent ~20% of the American workforce.
The majority of these jobs will be gone in the next decade.
I know this because the founders of companies in this space have pitched me for over 10 years and explicitly stated that this is their goal.
I'm not a doomerist or a decel.
I'm simply pointing out the absolute hypocrisy of our industry when we claim that this displacement is "overhyped."
1. For every factory robot deployed by @Figure_robot (valued at $30-40B for a reason!), we will retire six factory jobs. The robot will cost $1 an hour and run 23.x hours a day. The factory workers would have been paid $25-35 all in.
~9% of Americans work in factories and warehouses
2. For every @Waymo (valued at $50B with ~1,000 cars on road) deployed, we lose four full-time driver jobs (or eight gig workers). They will run at < $1 a mile eventually.
~8% of the American workforce works as drivers
3. The drive-through workers, cashiers and cooks are already being replaced by technology (and offshoring) in fast food restaurants.
~3% of the American workforce works in fast food.
Mark Packard retweeted
Just Out: Updated version of the "Chart of the Century" with data through June 2025. It should be noted that the consumer goods that have become more and more affordable over time -- e.g., cars, household furnishings, clothing, toys and TVs -- are either imported or subject to foreign competition.
Making those goods more expensive (and scarce) with tariffs/taxes will lower, not raise, America's standard of living.
Mark Packard retweeted
Replying to @mdpackard
@mdpackard thank you so much for your article in the recent @PerBylund collection where you talk about Adolf Reinach and phenomenological realism.
Idk about anyone else but Reinach’s approach to the apriori just seems flat out revolutionary
























