When someone wants to start a business and become an entrepreneur, there are a number of things that go through their head, the least of which is: What portion of my labor will or must the state take?
An interesting take is when one looks at slavery, where the Master takes 100% of the labor of an individual to do with the production as the Master sees fit.
Here’s an interesting video explaining this issue.
This is the BEST example of why government actions and foreign aid is limiting economic growth in the world. Ernsto Sirolli explains the differences between NGOs and entrepreneurship in a global economy.
Here’s a great video regarding entrepreneurship.
Israel Kirzner is an Austrian economist and one of the world’s foremost experts on Ludwig von Mises’s methodology and thought.
In this lecture given at a seminar in Aix-en-Provence, France in 1993, Kirzner talks about ethics, entrepreneurship, and how wealth is created in society. He also describes the distinction he made between two kinds of ignorance: ignorance of specific knowledge but having the knowledge of how specific knowledge may be obtained, and sheer ignorance — not knowing how to access specific knowledge because we don’t know what we don’t know. Kirzner says that sheer ignorance requires an entrepreneurial role to overcome it, which allows entrepreneurs to discover demand for products and services that consumers didn’t even know they needed or wanted. Watch the video below.
I attended the Paul Ryan rally at Lakewood High School in CO and was hoping to meet up with some friends, but alas, wearing my NRA hat did not stand out enough for them in a crowd of about 1,800 (the local cop relayed this info to me) to find me.
I was hoping that I could share a bit with some friends about our US history that teachers fail to teach in schools as “lessons learned” and to “not do that again.” But it is ignored and rewritten to fit certain ideological bents by liberal colleges and universities.
But, I did get stopped by others that wanted to know my thoughts to their questions, but not to solve our country’s problems, to find that 5-10 second sound bite, but not the solutions. Who were they and why did they stop me?
Yep, I’m sending out an SOS to all entrepreneurs, wannabe entrepreneurs, and wantrepreneurs.
What is my SOS?
It’s not difficult, but it can be costly if you’re not prepared. What is my SOS?
It’s….. it’s…… it’s……
I posted the blog because I wanted to showcase how laws affect both businesses and customers.
We in the US started out being run by rule of law, a Republic, not a Democracy, and we’re still a Republic, although somewhat watered down some in the last number of decades. If you don’t agree, then refer to this 10 minute Wimp.com video titled The American form of government explaining the different forms of government. The rule of law affects businesses, both startups and established businesses, as well as customer behaviors.
When you start your own business, you keep your costs down so as to ensure you have enough capital to make it for the long haul. If you have had Angel investors or Venture Capitalists, you still look out for keeping your costs in line with your growth so that you can get your product into a larger market.
In my post last week What do the rich pay for? about what the rich really do pay for I shared that they pay for the expensive stuff which leads to investments to reduce the price of the product so that others can afford it. Now let’s look at the other end of the money spectrum, the poor.
When you think of the poor what brings to mind most of the time his children in Africa or other Third World country with distended bellies and flies surrounding their eyes and mouth. You also think of running around barefoot on a dirt road next to a shack that with pieces of cardboard, metal, plastic, or scraps of wood put together to create a shelter from the elements. You also get the vision of mountains of trash with kids digging through trash to look for food to eat or other things to sell turn enough money to buy food. You’re also reminded of the devastating aftermath of Japan’s recent earthquake and tsunami. This post is not about lessening these problems or that we should not help, we should and as human beings we should take responsibility to provide help. But this post is about a different poor.
Let’s start with watching this, it’s only four minutes long.