Posts tagged with: entrepreneur

News from the Acton Institute:

Grand Rapids, Mich. (October 22, 2010) – The Acton Institute won first place in the Ethics and Values category in the 2010 Templeton Freedom Awards for Excellence in Promoting Liberty competition. The award, managed by the Atlas Economic Research Foundation, recognized Acton for its production of film documentaries that “communicate the principles and values of individual liberty and a free society.”

Atlas cited Acton for “first-rate documentaries designed to communicate the importance of virtue, limited government, and free enterprise to general audiences. They have impressed the judges through two of their very successful documentaries, The Call of the Entrepreneur and The Birth of Freedom,” which have “attracted attention from U.S. media, public policy institutes around the world, and even education ministers in Eastern Europe.”

This is the fourth Templeton Freedom award for Acton. The Institute also won an award in 2007 in the Free Market Solutions to Poverty category for its “Don’t Just Care, Think!” campaign; in 2005 in the Excellence in Promoting Liberty category for its Toward a Free and Virtuous Society conferences; and in 2004 in the Ethics and Values category for “its extensive body of work on the moral defense of the free market.”

Acton shared the 2010 Ethics & Values award with the Centro de Divulgación del Conocimiento Económico para la Libertad (CEDICE) in Venezuela which won for its initiative, “A Country of Owners.” The project promotes awareness in Venezuelans of one of the most basic human rights, which is the right to own property. The purpose of “A Country of Owners” is to encourage ideas and actions in favor of individual private property through educational activities. The initiative has been called “a courageous and timely response to the events in Venezuela” as well as a “beacon in the growing darkness of Venezuela.”

Exceptional think tanks from 10 countries have been recognized by the 2010 Templeton Freedom Awards for Excellence in Promoting Liberty for their accomplishments in advancing freedom. Representing three continents, the 16 recipients were chosen from over 132 applications from 48 countries by an independent panel of expert judges.
Named after the late investor and philanthropist Sir John Templeton, the Templeton Freedom Award was established in 2003 and is the largest international prize program that celebrates think tank contributions to the understanding of freedom. The Templeton Freedom Awards program has awarded more than $1.5 million in prizes and grants in the past 7 years. This year’s awards program grants a $10,000 prize to each winner.

The Awards include eight different categories including Free Market Solutions to Poverty, Social Entrepreneurship, Ethics and Values, Student Outreach, Initiative in Public Relations, Innovative Media, and Awards for Special Achievement by a University-based Center and by a Young Institute.

The Atlas Economic Research Foundation has supported a worldwide network of independent think tanks that promote a society of free and responsible individuals for nearly three decades. Atlas, based in Washington, currently works with more than 400 partners in 84 countries. More than half of these organizations were assisted in their formative years by Atlas through financial support or advisory services.

Are the Old Continent’s farmers showing that they have a real entrepreneurial spirit and serving as role models of courage and innovation during the Great Recession? Surely not all of them, but there are some inspiring examples to be found in Central and Southern Europe.

This is somewhat surprising as Europe’s agricultural sector is usually among the most traditional, least open to market innovation and product flexibility, and heavily reliant on EU funding to keep the sector competitive. Alas, European leadership in international food trade has been slowly whittled down in the last 3-4 decades.

Some European farmers, however, are resilient and are pulling rabbits out of hats these days by risking and investing heavily to implement creative new forms of business on their farms – many of which had been on the brink of failure.

It is primarily the French and Italians who are showing their true entrepreneurial spirit and vocation to agriculture. They appear to be some of the most tenacious and creative. Just like the Michigan dairy farmer, Brad Morgan, the protagonist of Acton’s documentary The Call of the Entrepreneur, these farmers have turned to undervalued and completely overlooked assets to build lucrative profit-making ventures that often double and triple their old incomes. They have begun reshaping the way their traditional industry operates, and at a time when Europe has lost its competitive edge to cheaper food suppliers from Africa and South America.

Making matters worse has been the total evaporation of their once abundant workforce. In France, for example, rural industry employees currently make up a mere 3% of the nation’s workers, when it once boasted over 40% at the turn of the last century (cf. August 2010 Time article “How to Save Rural France”). And figures for those farmers who have registered as operating “professional” establishments in France’s campagne have dropped from 2,000,000 to 350,000 in the last fifty years. As noted out in a 2006 Acton commentary (“French ‘Security’ and Economic Reality”), this is not at all surprising: the vast majority of France’s youth dream of careers as civil servants, or want to secure life-long union protected contracts, and furthermore claim to generally dislike or distrust free market economics.

A final blow to European farming may come in a few years when the industry’s most heavily relied upon system of public subsidy – the Common Agricultural Policy – is set to undergo reform in 2013. And no one is quite certain what the consequences may be, as EU finance officials nudge the sector to become more competitive and market orientated.

Just what are they doing?


While some major industries in France, like auto manufacturing, have received generous public subsidies to remain competitive, French farmers are beginning to rely on their entrepreneurial spirit and genuine vocation to agriculture to turn their sector around.

They are achieving this by doing exactly what entrepreneurs are called to do: take risks through investment and creatively diversify their business offerings to customers.

For example, entrepreneurial farmers in the southern Ile-de-France grain producing region have utilized the bucolic beauty of their wavy golden fields and soft rolling hillsides to create profit-making ventures. The same beauty that inspired France’s great impressionnistes, now lures thousands of international vacationers to their prime holiday centers built out of once dilapidated grain storage facilities with glorious hill-top views.

It is these same farmers who are using abandoned wheat and barley fields as horse riding tracks. They are converting their dusty old barns into equestrian club houses. Others, like Rabourdin farms in Brie, have added premium beer making facilities to their production portfolios and now attract thousands to their own micro brew facilities and connoisseurs can order their products on-line.

While interviewed for the same Time article, agricultural entrepreneur Bernadette Porchelu said that for her Basque-country farm to succeed “it required a lot of work and investment.”

“But now,” she says, “We are hustling to keep up with the demand and have more than doubled our income. When we first decided to make this move, everyone said we’d fail. Today I wonder how most farms will survive if they don’t undertake similar diversification –which may be why some of our visitors include fellow farmers asking us how we made it work.”

It’s not just the French

One of Italy’s leading agricultural entrepreneurs hailing from Rome, Annibale Gozzi, says that while France is making headlines with its creative agrotourism, Italy is not lagging too far behind.

He says that “neither can Italian farms keep up with fierce international competition in food production…Manual farm labor in other parts of the world is ten times cheaper than in Italy and we simply cannot compete even with our tremendous advances farming methods and technology.”

“We too have been forced to try different things and strive for the full integration of our products, services and assets.”

Those farms that are most successful, like Gozzi’s own agrotourism south of Rome, Villa Germaine, are the ones that have become full-scale “multi-function” operations in addition to producing traditional agriculture.

Referring to his own agriculture establishment as an example, Gozzi says he has risked huge amounts of capital to maximize his farm’s business to include “integrative products and services” such as farming courses, horse riding, premium viticulture and olive oil production, tuffa cave wine and cheese tasting facilities, as well as a full-service hotel and restaurant. His establishment now even regularly hosts business luncheons and wedding receptions with lavish menus featuring his own fresh meat and produce.

He says he does this with dedication and pride, a dream to “do a first-class job for what I love”. Gozzi’s thriving business at Villa Germaine not only has allowed him to maximize his farm’s assets and profits, but truly exemplifies what it means to combine entrepreneurial spirit and tradition all in the same business.

He adds that Italians are catching on to but this type of inventiveness, “but it is still much more appreciated by foreigners and France is clearly leading the way.”

Why they really do it

Vastly increasing revenue has been a driving factor for the survival of European farmers – especially knowing their major public financial support may dramatically change in a few years’ time and as their industry is being swept away by international competition.

Even if Europe’s few remaining die-hards simply had more public financing, it doesn’t mean they would come out on top. It has not worked for decades and surely it does not provide the answer to their future.

Rather, we must follow the lead of those real entrepreneurs who in the toughest economic times are true to their vocation and come up with ingenious solutions to their sector’s woes. If there is a future at all, they are providing viable alternatives. And to do so, they must not only be highly creative. They must also be willing to take risks –a courageous attitude undertaken by those who genuinely live out a vocation and exhibit a real passion for their trade.

(This article is the first of a regular monthly series dedicated to entrepreneurship in Europe.)

This week I’m attending Mises University, one of the largest and most rigorous summer courses in the Austrian School of economics (or “reality economics,” as my friend Michael McKay likes to call it).

Among the various lectures, there was one in particular that struck me as particularly relevant to the work of the Acton Institute. Peter Klein, professor of economics at the University of Missouri, delivered a presentation on entrepreneurship, a large part of the focus of his academic work.

Dr. Klein approaches the subject of entrepreneurship from the more realistic Austrian perspective. Rather than viewing people as examples of the homo economicus, as almost robotic, quantitatively-driven machines, Dr. Klein views human beings as unique and free actors. When we act, we do so under conditions of time and uncertainty. Though every human action presupposes cause and effect, there is no guarantee that our instincts are correct or that our efforts will pay off. In this way, every one of us, whenever we choose some action, is a kind of entrepreneur. In the face of uncertainty, we have an intended – but not guaranteed – result of action.

Combine that with the Austrians’ very realist take on production: production is not some kind of abstract graphical function, but the concrete act of taking a natural resource (e.g. some wood, a stone,  some metal ore), and using one’s labor – almost investing a part of oneself – to physically transform it.

In a very broad sense, we all participate in this two-sided entrepreneurial action: actively and consciously transforming the world around us, and doing so in the face of uncertainty and imperfect knowledge.

In a much more specific sense, this activity applies to the people we would usually call entrepreneurs (Ludwig von Mises called them, “entrepreneur-promoters”). These are the businessmen we all know: the small-business owner, the investment banker, the risk-taker. These are individuals whose entrepreneurial spirit in a special way exceeds those of everyone around them. They are the ones willing to take on greater risk, confront greater uncertainty, and make more difficult decisions.

In any case, I find that this realistic description of the role of entrepreneurship fits extremely well with the theology in The Call of the Entrepreneur. In the film, we learn that the entrepreneur is a “co-creator”: He  participates in the act of transforming raw materials and natural resources into products for consumers; but the entrepreneur does so by investing time and energy into the production process. And creativity and imagination play an indispensable role in this process of co-creation.

I remember a kind of feeling of awe when this thought dawned on me during Dr. Klein’s lecture. Here we find yet another example of how the market process, when understood and employed correctly, is not simply a morally indifferent result of choice, but a morally positive thing. Society and its consumers are made better off, and both the laborer and the entrepreneur are reminded of their human dignity as they participate in God’s work of fashioning the world.

Blog author: jwitt
Wednesday, November 25, 2009
By

Got the socialism blues? Worried that a friend or maybe a teenage son or daughter may contract a nasty case of it? Marvin Olasky at World magazine recommends former Acton research fellow Jay Richards’ 2009 HarperOne book, Money Greed and God: Why Capitalism Is the Solution and not the Problem:

Among the myths Richards demolishes: The Nirvana Myth (contrasting capitalism with an unrealizable ideal rather than with its real alternatives), the Piety Myth (focusing on good intentions rather than results), and the Materialist and Zero-Sum Game Myths (believing that wealth is not created but simply transferred).

Richards, one of that rare breed with a theology doctorate but an understanding of economics, also points out the errors of the Greed Myth (believing that the essence of capitalism is greed), the Usury Myth (that charging interest on money is immoral), and the Freeze-Frame Myth (that what’s happening now regarding population, income, natural resources, or so on, will always happen).

Want to administer some of the immunizations in delicious DVD form? Try a high-quality, narrative-driven Acton documentary that was irenic enough to air on scores of PBS stations around the country but with enough red meat to also air on Fox Business: The Call of the Entrepreneur shows why entrepreneurs and capitalism are part of the solution, and why socialism delivers the opposite of what it promises. The story of Jimmy Lai–the boy who escaped Communist China, founded a media empire, and confronted the Chinese leaders behind the Tiananmen Square Massacre–is alone worth the price of admission.

“The Deal Professor,” Steven M. Davidoff, has a good piece at The New York Times website about the indispensability of finance to our economy. It briefly rebuts the view popularized in the Oliver Stone movie Wall Street, in which financiers are portrayed as greedy parasites. I left a comment at the web page, noting that our documentary The Call of the Entrepreneur makes a similar case. I include the comment below, since it may not pass muster with the page’s comment moderator:

A documentary that explores the wealth-creating role both of the entrepreneur simpliciter and the finance entrepreneur in particular: The Call of the Entrepreneur. The film appeared on more than 80 PBS affiliates nationwide, including repeated airings in several major markets. And in what may be a first, it appeared both on PBS and Fox Business. I mention this by way of reassuring readers that the documentary isn’t screechy.

The one-hour film is a combination of narrative and expert commentary that many have found useful for explaining what entrepreneurs and merchant bankers bring to the economy, a particularly useful explanation for friends and family who wouldn’t read a lengthy article or book on the subject but will watch a documentary with high production values. It doesn’t pretend that there isn’t corruption or greed on Wall Street, but it does insist that these elements do not provide a full picture.

Full disclosure: I wrote the script for the documentary and am a fellow of the institute that created the film, The Acton Institute. The film is available at calloftheentrepreneur.com/. Also, the film doesn’t address the market distortions generated by Alan Greenspan and others, distortions that encouraged excesses in the financing world leading up to the economic crisis. Those issues are tackled at our web page on the economic crisis: acton.org/issues/economy.php/.

— Jonathan Witt

The Obvious Expert, a blog for Empowering Coaches, Consultants and Entrepreneurs, gave a great review for The Call of the Entrepreneur today in their blog post.  The Obvious Expert demonstrates that the film teaches that the call to become an entrepreneur is a spiritual calling:

But the film is not a critique of entrepreneurs; far from it.  Instead, Rev. Robert A. Sirico of the Acton Institute likens the calling that leads visionary men and women to become entrepreneurs to something that is almost spiritual, comparing entrepreneurship to being like a religion in the devotion it inspires.

Even furthering their support for The Call of the Entrepreneur, The Obvious Expert attached a link to Rev. Sirico’s interview with David Asman on America’s Nightly Scoreboard which was broadcasted on the Fox Business Network.

You can read the entire post on The Obvious Expert by clicking here.

To watch the trailer for The Call of the Entrepreneur click here or if you are interested in purchasing the video visit our Bookshoppe by clicking here.

There is an old expression, “Talk is cheap.” Coupled with another old expression, “Actions speak louder than words,” we are introduced to a profound philosophical insight brought by Karol Wojtyla (Pope John Paul II) in his The Acting Person. That insight is that people are understood through their actions, not their words. Metaphysically, that is, in the nature of every man, we say that man is a rational animal; he is an animal that can think, know and know that he knows. But in a sense, this truth is much too vague. Even though we all share this nature, each of us is very different in many respects. Wojtyla’s book is a phenomenological reflection on the actual lived experience of real human beings.

In human life we experience not only sense impressions (the British empiricists would agree) but also things and people (so many philosophers from Descartes onward would actually quibble with this.) The things and people make up two different aspects of the world. The very fact that we developed language demonstrates that we are meant to disclose or share our experiences, thoughts and feelings with others. We, i. e., the human person, is the subject of action. We reflect on our own experiences and what we actually do, but also we act as an objective monitor of our own actions, which means that man is the object of his own cognition. This means that we have the ability to judge the rightness, wrongness and even the prudence of our actions, given the amount of understanding we have accumulated during our lives. The implications of this is earth-shaking: we and no one else is responsible for our own actions.

This responsibility comes from that fact that God has given us three qualities that flow from our participation in His likeness:

a) Self-possession—the person’s actions flow from the point of authority over himself;

b) Self-governance—the quality that allow a person to order his actions to fulfill his “existential ends,” that is, to fulfill what he was created to be;

c) Self-determination—the outcome of self-possession and self-governance is that we determine how our personhood develops in the real world, and not in some theoretical construct. (more…)

Mark your calendar! The Fox Business Channel is featuring The Call of the Entrepreneur at the following times:

· Saturday, September 27 5:00 – 6:00 PM EST / 2:00 – 3:00 PM PST

· Sunday, September 28 12:00 – 1:00 AM EST / 9:00 – 10:00 PM PST

To find your local station visit the FOX channel finder. To find out more about the movie, discover related materials, and learn how to host your own screening, visit The Call of the Entrepreneur website.

Sir John TempletonSir John Templeton, the great entrepreneur and philanthropist, passed away on July 8, 2008. Fr. Robert Sirico, president of the Acton Institute, marks his passing with this tribute:

It was with great sadness that I learned today of the passing from this life of one of the twentieth-century’s great stalwarts in the struggle for faith and liberty. Rising from a humble background in Tennessee, John Templeton graduated from Yale and Oxford universities, the latter of which he attended as a Rhodes Scholar. He went on to become one of the most-successful investors of his generation, creating wealth and generating employment for thousands of individuals. Today the very name “Templeton” remains a byword for entrepreneurship, prudent risk-taking, integrity, and innovation in the financial industry in America and around the world.

Read Rev. Robert Sirico’s tribute to Sir John Marks Templeton (1912-2008): A Great Entrepreneur and Philanthropist.

Blog author: jspalink
Friday, July 20, 2007
By

Lemonade EntrepreneurActon continues its award winning ad campaign by looking at how the entrepreneurial calling begins at an early age. A child who sets up a lemonade stand outside of his house is an entrepreneur, assuming a certain amount of risk and responsibility and providing a product that will increase the happiness of passers by. Adults often praise the hard work of children, especially children who find ways to earn something through their hard work, but often this attitude changes as the child becomes a successful business person or entrepreneur.

By shouldering the risks, entrepreneurs make the future a little more secure, and a whole lot easier for the rest of us. So, the next time you run into Johnny, don’t resent him. Thank him for a job well done.