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The article focuses on the centenary of book "Risk, Uncertainty and Profit" from Frank Knight. It mentions general sense that uncertainty is now a central concern of societies and good reason to do so here in Enterprise & Society (ENSO). It also mentions Knight's work delivers one of the first economic theories of the firm, and this theory is directly associated with a theory of the functioning of societies.

The article focuses on Adam Smith thought that is often linked to liberal traditions in economics and conservative in politics. Topics include examines that it seems certain that Smith is with Hume and the physiocrats, the inventor of classical liberalism although far from its later variants as it is much less certain that he provides a doctrinaire program of political conservatism.

The article examines that Frank Knight, in his most famous work, Risk, Uncertainty and Profit who develops an approach that recalls, in many respects, behavioral economics. Topics include considered that certain chapters thus contain very up-to-date insights into the way in which economic agents make their decisions.

The article examines that there are two reasons to celebrate Frank Knight as the centenary of his great work Risk, Uncertainty and Profit and the general feeling that uncertainty is now at the center of company concerns. Topics include considered that there is at least a good reason to celebrate it in Entreprise & Société (ENSO) because Knight's book offers one of the first economic theories of the firm and that this theory is directly associated with a theory of the functioning of companies.

The article examines that Frank Knight's reference work, Risk, Uncertainty and Profit often quoted, less often read, is "an attempt to establish more precisely the essential principles of conventional economic doctrine and to show their implications more clearly than has been done. Its object is refinement, not reconstruction". Topics include reports that the bearer of an analysis of the nature, role and function of the company that breaks with this conventional doctrine will continue.

Copyright of Entreprise & Société is the property of Classiques Garnier and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)