Posts tagged with: entrepreneurship

Fox News anchor Shepherd Smith in the studio

Yesterday at The Federalist, I examined the claims of Florida Sen. Marco Rubio and Texas Sen. Ted Cruz during last week’s GOP primary debate that the “mainstream media” is dominated by “liberal bias.”

While there is some truth to this claim, as I point out in my article, the data paints a more complicated picture: Conservative outlets such as Fox News and (editorially) the Wall Street Journal outperform the closest left-leaning ones, CNN and the New York Times, by wide margins.

I write,

It would be fair to counter that cable news is not the only source on television, and not even the most-watched. Fox has no evening news like ABC, NBC, CBS, and PBS. The fact that, according to a recent study by the American Press Institute, “Democrats are more trusting of news from the three broadcast networks and the newswires, while Republicans are more trusting of news from cable” suggests the slant there tends to favor the Left.

However, people divide their news consumption today between mediums. That same study notes, “The 24-hour cable channels … are the source most often cited for four of the topics probed: politics, international news, business and the economy, and social issues.” So when it comes to political issues, the most common source, 24-hour cable news, is fairly evenly divided: Fox News generally has a Nielsen rating about equal to CNN’s and MSNBC’s combined.

A bit later on, I return to this point: (more…)

Hey McFly! Put on your self-drying jacket and your self-tying shoes, because I’ve got a job offer you can’t refuse!

Hi, I’m Griff Tannen and my business, Griff Tannen’s Hoverboard Emporium is looking for part-time sales clerks. You probably know me from that time I smashed into the courthouse and was instantly sentenced to jail:

That’s me. I wasn’t really framed.

You might think of that as my lowest moment. It was certainly humbling. But now I look back at that day with gratitude, because it gave me the insight for this fine sales establishment.

But don’t just take my word for it, my business partner (and rabbi) Dr. Kirzner can help explain my business model: (more…)

Blog author: jballor
Thursday, October 15, 2015
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664975_084I saw The Martian this week and was struck by the number of resonant themes on a variety of is issues, including creation, creativity, innovation, entrepreneurship, exploration, work, suffering, risk, and civilization.

I won’t be exploring all of these in the brief reflections below, but will simply be highlighting some salient features. The film communicates something seriously important about the threefold relations of human beings: to God, to one another, and to the creation.

There will be some potential spoilers in the discussion below the jump after this line.
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“Globalization must do more than connect elites and big businesses that have the legal means to expand their markets, create capital, and increase their wealth.” –Hernando de Soto

6898950_7a0fd3b3d9_bWhen assessing the causes of the recent boom in global prosperity, economists and analysts will point much of their praise to the power of free trade and globalization, and rightly so.

But while these are important drivers, we mustn’t forget that many people remain disconnected from networks of productivity and “circles of exchange.” Despite wonderful expansions in international free trade, much of this has occurred between “outsiders,” with many partners still languishing due to a lack of internal free trade within their countries.

Much of this is due to an absence of basic property rights, as economist Hernando de Soto argues throughout his popular book, The Mystery of Capital. If the global poor don’t have the legal means or incentives to trade beyond families and small communities, so-called “globalization” will still leave plenty behind. (more…)

kickstarter1Several years ago, as a music student in college, I remember hearing constant complaints about “lack of funding for the arts.” Hardly a day would go by without a classmate or professor bemoaning the thin and fickle pockets of the bourgeoisie or Uncle Sam’s lack of artistic initiative.

Little did we know, a shake-up was already taking place, driven by a mysterious mix of newfound prosperity, entrepreneurial innovation, and the market forces behind it. The digital revolution was beginning to level the playing field and drain power from tanks and banks of all kinds, from the Hollywood execs with dollar signs in their eyes to the aesthetically enlightened cronies at the National Endowment for the Arts. Despite the many prophecies of a creative apocalypse, a bottom-up revolution was taking place.

Amid the sea of new technologies and tools that were soon to emerge — streaming music, streaming movies, ebook publishing — crowdfunding rose as a powerful path to creative independence: artistic, economic, and otherwise. Leading the pack is Kickstarter, with success stories abounding, from inventors to thespians to foodies to photographers, and with routine funding results that actually surpass the NEA. (more…)

Blog author: dpahman
Thursday, September 24, 2015
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Today at the Library of Law and Liberty, I take a cue from probablist Nassim Nicholas Taleb and call for the commemoration of a National Entrepreneurs Day:

One has been proposed in the U.S. House of Representatives, and probabilist Nassim Taleb has given us a fully developed argument as to why we should have one. I second the motion. In Antifragile, his 2012 book, Taleb confesses that he is “an ingrate toward the man whose overconfidence caused him to open a restaurant and fail, enjoying my nice meal while he is probably eating canned tuna.”

This lack of gratitude is a moral failing of all of us in modern society, says Taleb. Hence his idea:

In order to progress, modern society should be treating ruined entrepreneurs in the same way we honor dead soldiers, perhaps not with as much honor, but using the exact same logic. . . . For there is no such thing as a failed soldier, dead or alive (unless he acted in a cowardly manner)—likewise, there is no such thing as a failed entrepreneur or failed scientific researcher.

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francisgmo62815“Defending capitalism on practical grounds is easy,” writes economist Donald Boudreaux at the Mercatus Center. “It is history’s greatest force for raising the living standards of the masses.”

What’s more difficult, it seems, is understanding its moral logic, spiritual implications, and which of each is or isn’t inherent to private ownership and economic exchange.

At what level, for instance, is freely buying a gallon of milk at a freely agreed-to price from a freely employed worker at an independent grocery store an act of sin, idolatry, and exploitation? Such basic transactions are, after all, the bread and butter of a system built on free enterprise and open exchange (i.e. capitalism). From here, it gets more complicated, of course, and even that basic starting point can surely involve corrupt actors and action.

Yet even Pope Francis, discernor of the discerning, seems to struggle in locating Point A of that basic logic, even when railing against its banner. I tend to presume that basic milk purchases are not, in fact, his actual target. But then he continues and without qualification, railing against markets at large and ripping at plenty of positives that dangle well outside the deserving injustices of cronyist corporatism.

The Pope prefers to argue not that capitalism “has its faults” or “demands a virtuous society,” but rather that it is a “new tyranny,” one that followed the ills of communism, but filled the void with something just as tragic. (more…)