Abstract:

     Each new economic crisis reveals a large number of entrepreneurial errors. In fact, every crisis theory is, after all, a theory of errors. This can be somehow odd, as long as one of the main entrepreneurial features is prediction. The success of failure of a business depends on the quality of this prediction, on the anticipation of future consumer preferences and on the availability of necessary resources. But why so many companies make wrong predictions? The answer must be sought in the signals on which these predictions are based and on which decisions are made. When the interest rate and the prices network no longer provides correct information about the consumers’ time preference, about the real relation between savings and investments, entrepreneurs hazard in fanciful projects which, in the absence of real resources on the market, are doomed to failure. When restricting the means of financing takes place, all these projects built on the mirage of easy access to credit money turn into entrepreneurial errors.