The Entrepreneur

Contrary to the expectation of the Luddites, we have only become wealthier than before and workers today enjoy much higher standards of living than workers in the past.

In a free society, legitimate economic success does not fall from the sky or come by force. Behind every fortune lies effort, risk, savings, time, discovery, validation, and social coordination.

We speak of the “economy” as though it produces goods. Yet, the term really is a fiction, as purposeful individuals working in cooperation with each other are the real producers.

The 19th century saw the creation and expansion of railroads in the United States, which hauled freight and carried paying passengers. One offshoot from privately-owned railroads was the creation of company-built and -operated hospitals to treat their employees in remote locations.

Our author went to St. Croix in the US Virgin Islands, expecting a vacation in paradise. Unfortunately, thanks to the USVI government‘s laws “protecting” the taxi industry, he had to spend a tidy sum of money just getting around.

There are numerous critics of free markets. However, all of those critics also are consumers and they gladly depend upon free markets to satisfy their needs.

President Trump has made a lot of noise in the business community in the first few months of his administration. Unfortunately, his actions and rhetoric have created a lot of uncertainty in the economy, threatening capital development.

In any society, there are winners. But how do they win? Successful entrepreneurs innovate, take risks, and satisfy consumer needs in a competitive marketplace.

Profits aren’t immoral—they’re necessary. Just as organisms need a net energy surplus to live, societies need profits to sustain themselves.

College football has finally experienced an athlete‘s holdout in order to leverage a hoped-for payday. In the case of Nico Iamaleava, he tried to leverage more money from the University of Tennessee but failed spectacularly. There are economic lessons to be learned here.