Economists and business schools have, in recent decades, rightfully praised entrepreneurs for their ability to create wealth and transform entire industries. But there’s more to it than that, says Sam Gregg in his commentary. “If taxes are high, property-rights unprotected, and corruption the norm, then the environment embodies major deterrents to wealth-generating entrepreneurship,” he writes. “Why would people risk being entrepreneurial when they can’t assume their ideas won’t be stolen or their profits arbitrarily confiscated?”
Read the commentary at the Acton Website and comment on it here.