Entrepreneurs aren’t just born. Like any other endeavor, there are natural talents involved, but building a business takes an incredible amount of work and knowledge. It’s one thing to have an idea; it’s something else to figure out financing, marketing, advertising, manufacturing….
In 1956, Fidel Castro, along with Che Guevara, led a guerrilla war on the island nation of Cuba. By 1959, Castro was sworn in as prime minister, and began leading the country down the destructive path of Communistic ideation. (Due to his poor health, Castro has now turned over the reins of the government to his brother Raul.)
Under Castro, religious organizations, churches and schools have been all but decimated. He took control of student organizations and professional groups. Private property was confiscated, including businesses, farms, and factories. Hundreds of thousands were imprisoned as political prisoners.
Yet now, it appears that Cuba is beginning to emerge from the shadows of the Communist regime. According to the New York Times, Cubans are beginning to experience entrepreneurship and the financial rewards that come with that. (more…)
Too many regulations, too much government intrusion: business leaders and entrepreneurs are “going John Galt”, according to Andrew Abela at Legatus magazine.
Fed up with the socialistic world he’s living in, Galt decides to leave and encourages numerous other entrepreneurs to follow him. As a result, the economy more or less grinds to a halt.
At Legatus chapter meetings across the country where I’ve been speaking — and with individual and groups of Catholic entrepreneurs and business leaders who visit us at the Catholic University of America — I’m meeting more and more people who are basically just walking away. Whether because they have had enough of fighting the EPA over every aspect of their business or they are concerned about going to jail because they didn’t comply with the umpteenth new regulation this week, they believe that the fun and sense of accomplishment in building a business is being sucked away by big government.
The Gates Foundation has saved an estimated 5 million lives thus far. But we rarely hear of the countless lives saved or improved by the profit-seeking activities of Microsoft…. One effect is the Foundation itself. To be able to start such a large aid organization, Bill Gates first had to be a successful entrepreneur. As a philanthropist, Gates is not “giving back” to the world, as if he had taken from it in the first place. His philanthropic giving is possible only because he first “gave” as an entrepreneur.
… Microsoft succeeded only because they provided value for hundreds of millions of people. Gates had to meet the needs of his customers … And to stay ahead, he had to invest wisely rather than consume or give away all the profits.
Focusing specifically on American entrepreneurs, researchers Mitchell J. Neubert and Kevin Dougherty found that although entrepreneurs “appear no different than nonentrepreneurs in religious affiliation, belief in God, or religious service attendance,” they do “tend to see God as more personal, pray more frequently, and are more likely to attend a place of worship that encourages business activity.”
Baylor recently posted some interviews with the researchers to get their thoughts first-hand (HT). Dougherty, an associate professor of sociology, emphasizes that in a time of economic recovery, we should pay close attention to any area that might impact those looking to start a business:
We’re at a particularly important time for the promotion of entrepreneurship, coming out of a recession, not just in our country, but globally, so if there’s a time period where we need people engaging in new business creation, now is the time, and if religion has something to do with that, it’s important to know what that is and how that occurs.
Neubert, an associate professor of business and entrepreneurship, notes that although this particular study doesn’t get into why entrepreneurs pray more or what exactly they pray about, he hopes that future research will examine these areas more fully. (more…)
According to the 2013 Mackinac Policy Conference, Michigan’s three largest universities (Michigan State, University of Michigan and Wayne State) are producing entrepreneurs at twice the national average. According to Michael Wayland, the report included:
…responses from more than 40,000 of the 1.2 million alumni of the University of Michigan, Michigan State University and Wayne State University. The responses revealed that more than 19 percent of the alumni surveyed have started a company, and some have created more than one.
The study suggests a significant number of alumni are starting their own businesses, and more than 50 percent of those businesses are here in Michigan, contributing to our state’s economic prosperity,” said URC [University Research Corridor] Executive Director Jeff Mason in a statement. “The URC is committed to supplying the tools that can lead to new companies and more jobs.” (more…)
Silicon Valley certainly has a reputation for innovation and risk. But Christianity? Businesses designed not only to innovate but to pursuing business as an “intimate” adventure with God? That seems unlikely.
What might be copied, Ms. Grieder indicates, is the so-called Texas model — that is, a weak state government with few taxes and fewer regulations and services. It would be far harder to replicate the state’s civic DNA, which features traits that can be traced to its decade, beginning in 1836, as a stand-alone nation (independent, suspicious of Washington), the late-1800s cowboy era (self-reliant, fraternal) and the 20th-century introduction of oil and entrepreneurialism (pro-business, skeptical of government)….
Outside writers have been regularly caricaturing the state since the novelist Edna Ferber introduced America to postwar Texas with “Giant” in 1952. The canon ranges from “The Super-Americans,” by John Bainbridge (1961), to “As Texas Goes … : How the Lone Star State Hijacked the American Agenda,” by Gail Collins, a New York Times columnist (2012). Ms. Grieder’s is the rare book that takes stock of the Texas model without ridiculing many of its traditions and politicians.
My one concern is that the book’s author seems enamored of Gov. Rick Perry’s crony capitalist strategy of using subsidies to attract companies to the Lone Star State, a habit that is anything but small government and likely to come back to bite. On the whole, though, the book and the book review appear to give far more props to low taxes and limited government than I thought possible for a work endorsed in the pages of The New York Times. Maybe there’s hope for those city slickers after all.
In the video below, Ralph Baer, the “father of video games,” explains why he still invents at 90 years old. “What do you expect me to do?” he asks. He likens invention to the work of a painter. Would someone ask why a painter doesn’t retire? It’s what they love to do! Indeed, it is a calling.
Entrepreneurs, as agents of change, encourage the economy to adjust to population increases, resource shifts, and changes in consumer needs and desires. Without entrepreneurs, we would face a static economic world not unlike the stagnant economic swamps that socialism brought about in central Europe.
The same can be said about inventors like Baer as well. Like them or not, video games have been a huge source of wealth creation in our country over the last 40 years. Not only are whole teams of programmers required to create a single game, but modern games even employ actors, composers, writers, artists, and so on. In many ways they are (or at least could be) the culmination of culture up to our present time, and it all started because Baer invented a fun little gadget and managed to market it some 40 years ago.
I remember as a child of the ’80s, we actually had a Magnavox Odyssey 2 growing up. A child today would likely find it bizarre that I could find any enjoyment from such primitive sound, graphics, and interface, but it will always hold a special place in my heart. Yes, looking at it now, I can vividly remember the feel of the controller in my hand, the excitement of a child in wonder at what, at the time, was such amazing technology and a source of fun and competition with my brothers. It may not be impressive to many today, but inventions like this and the people who invent them ought to bring us to awe before the God who created heaven and earth and such fascinating and creative creatures as the human race, capable of wondrous invention after the image of the God who created them so fearfully and wonderfully unique.
Too many regulations: that’s the judgement of Fred Deluca, founder of the Subway restaurant chain. In an interview with CNBC, Deluca said he couldn’t start his business in today’s economic climate.
The Subway founder pointed to a number of government regulations that are degrading the business environment for entrepreneurs. Examples include the Affordable Care Act, an increase in the minimum wages and the end of the payroll tax holiday.
The Affordable Care Act, often referred to as “Obamacare,” is “the biggest concern of our franchisees,” Deluca said. “They don’t know what to expect. It’s causing a lot of concern, but that too will be passed on to the consumer.”
Deluca also said payroll taxes are a burden passed on to customers, and sales then decline. He said that if he were to try and start his business in today’s tangle of regulations and burdensome costs, “…Subway would not exist.”