Book description
Risk, Uncertainty, and Profit is a groundbreaking work of economic theory, distinguishing between risk, which is by nature measurable and quantifiable, and uncertainty, which can be neither be measured nor quantified.
We begin with an analysis of the functions of profit, risk and uncertainty in the economy. Frank H. Knight…
Why read it?
1 author picked Risk, Uncertainty, and Profit as one of their favorite books. Why do they recommend it?
No author has had a greater impact on my thinking about entrepreneurship than Frank Knight.
He explained that entrepreneurs do not maximize anything, since the future is uncertain in a non-probabilistic sense. Instead they exercise judgment while facing an unknown future.
This book is divided into three parts. The first two parts read like a conventional economics textbook, but the third part is phenomenal. He explains why risk and uncertainty are different, which is a lesson that many economists and other social scientists still disregard.
From David's list on understanding how societies develop.
If you love Risk, Uncertainty, and Profit...
These Blue Mountains
A moving story of love, betrayal, and the enduring power of hope in the face of darkness.
German pianist Hedda Schlagel's world collapsed when her fiancé, Fritz, vanished after being sent to an enemy alien camp in the United States during the Great War. Fifteen years later, in 1932, Hedda…
Want books like Risk, Uncertainty, and Profit?
Our community of 12,000+ authors has personally recommended 100 books like Risk, Uncertainty, and Profit.
Share your top 3 reads of 2025!
And get a beautiful page showing off your 3 favorite reads.
1,340
readers submitted
so far, will you?
📚 If you like Risk, Uncertainty, and Profit, you might also like...
Foxfire in the Snow
It's a time of change, between magic and alchemy.
Born the heir of a master woodcutter in a queendom defined by guilds and matrilineal inheritance, nonbinary Sorin can’t quite seem to find their place. At seventeen, an opportunity to attend an alchemical guild fair and secure an apprenticeship with the…
The Main Gate
Dr. Elise Marquette has spent years burying the past—until the past refuses to stay buried.
Hired to join Earth’s first interstellar contact team, she hopes the vastness of space will finally offer distance from the ghosts of war and the wounds left by a mother who never let her be…
