GPT questions Flashcards
What is the difference between a Knightian entrepreneur and an Austrian school entrepreneur?
Knightian: emphasizes handling uncertainty and earning profits as a rewards
Austrian: emphasizes discovering opportunities and driving market dynamics through entrepreneurial actions
Tilburg University decides that students no longer need to buy their own computers for taking notes in class. It will provide computers to students as Common Pool Resources (CPRs), meaning that the students will autonomously govern the computers as commons. The program is tailored to meet specific course needs, with a variety of laptops and software provided. Students who misuse laptops face fines or temporary suspensions. The university supports student autonomy in managing the system, providing resources when necessary. Only registered students can use the laptops, verified by their student IDs. Every year, a Students’ Assembly is held for students to vote on laptop policies. A committee, including student representatives, handles disputes over laptop use. Library staff and volunteers check laptops for damage daily. If the student body grows too large, department-specific laptop pools will be created, each with its own rules but coordinated at the university level.
Give all the necessities of CPR
Clear Group Boundaries: Only registered students can use the laptops, verified by their student IDs.
Production Methods Adapted to Local Conditions: The program is tailored to meet specific course needs, with a variety of laptops and software provided.
Participatory Decision-Making Process: Every year, a Students’ Assembly is held for students to vote on laptop policies.
Effective Monitoring: Library staff and volunteers check laptops for damage daily.
Sanctions for Violators of Community Rules: Students who misuse laptops face fines or temporary suspensions.
Mechanisms of Conflict Resolution: A committee, including student representatives, handles disputes over laptop use.
Higher-Level Recognition of Local Autonomy: The university supports student autonomy in managing the system, providing resources when necessary.
Layers of Nested Enterprises if the Community Grows Too Large: If the student body grows too large, department-specific laptop pools will be created, each with its own rules but coordinated at the university level.
What is the multitude?
A concept that comes from Spinoza and later Negri. The multitude is a diverse set of individuals who work together toward common goals
What did Spinoza asked regarding human behavior in the state of nature (multitude)?
How would people act if there were no government or laws (in a natural state)
What does the key point of the multitude ‘Self-interest does not necessarily entail individualism’ mean?
People looking out for their own interest doesn’t always mean they act alone or selfishly
What does the key point of the multitude ‘Enlightened self-interest is collectivist’ mean?
Enlighted self-interest means realizing that working together with others can better achieve personal goals
What does the key point of the multitude ‘Survival depends on successful cooperation’ mean?
To survive people need to cooperate with each other successfully.
What is an entrepreneur according to Schumpeter?
Individuals who go beyond the homo oeconomicus (rational, profit-maximizing behavior of typical economic agent)
What are the characteristics of the Schumpeterian entrepreneur?
1) Innovator, not just an inventor: bring these ideas to the markets
2) Recombination of resources: discovering new markets for existing products
To what concept are strategic patenting and tax evasion related?
Unproductive entrepreneurship by Mariana Mazzucato
