The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne

Exercise 21

Are the profits of entrepreneurs obtained through coercion or through persuasion? (Definition of terms: coercion -inducing people to cooperate by threatening to reduce their options; persuasion -inducing people to cooperate by promising to expand their options.) If you don't know how to answer the question, try thinking about the adequacy in this context of the proposed definitions for coercion and persuasion.