The utility I refer to are the basic types of utility (form, place, time). He was able to provide meals of predictable quality in a convenient place (think about on/off ramps on the interstates of today) and in short order (the train frequently didn't stop for long).
As to entrepreneurship, I'm falling back on Schumpeter's five roles of the entrepreneur:
introduction of a new product,I can make a case for at least three of these (the second, fourth and fifth). And after I read the book, I may be able to make a case for more.
using new or different inputs to produce a product,
introduction of new technology or process,
opening a new market,
and creating a new economic organization.
I think this book could be useful to both the economics and the American History teacher. I will add it to my carousel at left. And I will try to review it when I read it. But be forewarned - my current 'to be read' pile is fairly tall. I look forward to your comments.
3 comments:
The article stresses another aspect of Harvey's success, and probably something that figures into many successful entrepreneurial ventures: sex appeal!
That's actually what I was referring to when I mentioned Schumpeter's second characteristic: using young women to take orders and serve. And as the article points out, many of them actually got married to customers.
Ah, good point. I'll have to see this movie:
http://www.youtube.com/watch?v=7YAKNmrNOMc
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