Entrepreneurship: A Fading Virtue

Ever since the dawn of humanity people have pondered how to best organize themselves to progress society. Should we listen to the wisdom of village elders? Should we pay tribute to the gods and hope they will bless society with good fortune? Perhaps we should listen to experts with decades of experience who can centrally plan society with graphs, equations, and theories. These are of course all the models that have been relegated to the ashbin of history and replaced by something far more productive and inclusive. Individual liberty, markets, and mutual exchange. Free people competing and cooperating in countless different ways to introduce new ideas and products have rapidly progressed society faster than any other system ever conceived. The key operating unit of this system is not village elders, or the church, or a central planner, but the entrepreneurs. That is, individuals acting in ingenious and self-serving ways to meet the needs of society whether that be through innovation, production, or service.

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Πηγή: aier.org