Peter Klein defines the term entrepreneur from the Austrian economic tradition perspective; he believes entrepreneurship is an economic function that plays a particular role in society, mainly that of making decisions on how resources will be used and also producing the things people want. Klein also discusses the elements that hinder and stymie the entrepreneurial process, mentioning a possible way to solve the problem. Furthermore, he points out the importance of experimenting in different activities with various lines of business and learning from failure. He closes explaining why the entrepreneur is considered a hero and what the benefits of entrepreneurship are.