Posts tagged with: entrepreneurship

Israel M. Kirzner

While reading economist (and rabbi) Israel M. Kirzner’s Competition & Entrepreneurship (1973), it occurred to me that his description of what the “pure entrepreneur” does could also be applied to what a good interdisciplinary scholar, such as someone who studies faith and economics, does (or at least aspires to do).

In our world of imperfect knowledge, Kirzner writes,

there are likely to exist, at any given time, a multitude of opportunities that have not yet been taken advantage of. Sellers my have sold for prices lower than the prices which were in fact obtainable…. Buyers may have bought for prices higher than the lowest prices needed to secure what they are buying…. The existence of these opportunities opens up a scope for decision-making that does not depend, in principle, upon Robbinsian [means-end] economizing at all. What our decision maker without means needs to arrive at the best decision is simply to know where these unexploited opportunities exist. All he needs is to discover where buyers have been paying too much and where sellers have been receiving too little and to bridge the gap by offering to buy for a little more and to sell for a little less. To discover these unexploited opportunities requires alertness. Calculation will not help, and economizing and optimizing will not of themselves yield this knowledge.

To simplify, for Kirzner the entrepreneur is an equilibrating force in the market, a contrast of emphasis from the conception of Joseph Schumpeter, where the entrepreneur is a disequilibrating force through creative destruction. Rather, for Kirzner, the entrepreneur is the person who sees the opportunity to buy low and sell high. And I think that is what interdisciplinary scholars do at their best as well. (more…)

Blog author: jsunde
Wednesday, September 2, 2015
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creativity-capitalism-money-crashCapitalism is routinely castigated as an enemy of the arts, with much of the finger-pointing bent toward monsters of profit and efficiency. Other critiques take aim at more systemic features, fearing that the type of industrialization that markets sometimes tend toward will inevitably detach artists from healthy social contexts, sucking dry any potential for flourishing as a result.

But what if the opposite is true? I offer the argument over at The Federalist.

Free economies introduce their own unique challenges for artists and consumers alike. We are justified in cringing at the array of bottom-dollar record-company execs and merchandising-obsessed Hollywood crackpots (though I will always prefer their ilk to your run-of-the-mill Commissar of the Arts). But the increases in economic empowerment that have led to these many marketing machines have also led to plenty of artistic empowerment in turn.

In an article for New York Times Magazine, Steven Johnson reinforces this very point, observing that the many apocalyptic prophecies about arts in the digital age have not quite manifested. “In the digital economy, it was supposed to be impossible to make money by making art,” he writes. “Instead, creative careers are thriving — but in complicated and unexpected ways.” (more…)

kivaDo you recognize the name Jessica Jackley? What about Kiva? Jackley is the young woman who started Kiva in 2005. Kiva, a crowdfunding site, asks not simply for donations, but for micro-loans. To date, Kiva has facilitated $730 million in loans in 83 countries, funding entrepreneurs in agriculture, clothing manufacturing, and transportation, just to name a few areas of endeavor.

In an interview with Christianity Today, Jackley discusses her new book, Clay Water Brick: Finding Inspiration from Entrepreneurs Who Do the Most with the Least, her faith and her work.

When asked about “the poor you will always have with you” (Matt. 26:11) and how she interprets that, Jackley replies:

I know now that the story behind it is more than what I imagined as a child. I used to imagine a long line of poor people following me around everywhere, which terrified me. But the idea that there will always be need—in every one of us—makes more sense to me today. There are different kinds of poverty, including spiritual poverty, relational poverty, and emotional poverty. There are needs we all encounter as human beings; we all experience poverty at some point in our lives. Need is universal.

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Blog author: ehilton
Monday, August 3, 2015
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Classroom in Dharavi; photo courtesy of Medium

Classroom in Dharavi; photo courtesy of Medium

It’s a rare person who doesn’t like to travel. It’s exciting and fun to see new things, whether it’s a natural phenomenon or a man-made wonder. Some like to travel for the food: local specialties and exotic fare. Travel is good: it broadens our horizons, gives us new ways of seeing our world and often leads us to new friendships.

But can travel be more than that? Can it do more good than simply what we gain from it? Yes, it can.

Medium recently published Travel As a Force For Good: Social Enterprise and Community Impact, part of a series on travel and social enterprise. Two of Medium’s writers, Audrey Scott and Daniel Noll, explored various parts of the globe, seeking new horizons, but also see how travel can positively impact local communities.

Many homes in the developing world use oil to heat and light their homes. It’s easy to get and inexpensive, but it creates thick black smoke, which in turn creates breathing issues. Medium’s travelers were in a Maasai village near Arusha, Tanzania, to visit a local family. Unfortunately, it was a short visit:

We followed Kisioki into the hut’s central room and I was accosted by acrid smoke. Within seconds, I could barely see. I labored to breathe. I blinked repeatedly, trying to clear the smoke and sting from my eyes.

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Hands On Originals is a small printing company in Lexington, Kentucky, that, up until recently, had very few problems when they declined to print a certain message.

Last year, however, the owner, Blaine Adamson, was found guilty of discrimination by a Lexington human rights commission for refusing to print T-shirts for a local gay pride festival. The commissioners ordered that Adamson must violate his conscience, and further, must participate in diversity training to be conducted by the commission.

Fortunately, this story has a happier ending than that of the baker and florist, as the Fayette Circuit Court ended up reversing the commission’s decision. “It is their constitutional right to hold dearly and to not be compelled to be part of an advocacy message opposed to their sincerely held Christian beliefs,” Judge James Ishmael wrote in his decision.

Watch below for more of Blaine’s testimony:

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“We view autism as one of our key competitive advantages,” says Tom D’Eri of Rising Tide Car Wash in Parkland, Florida, which employs 43 employees, 35 of which are on the autism spectrum. “Our employees follow processes, they’re really excited to be here, [and] they have a great eye for detail.”

Hear more of their story here:

Among adults with autism, the unemployment rate is around 90%, and yet, if you were to ask D’Eri, whose brother has autism, the market is simply not recognizing the enormous potential and unique gifts these people possess. “Typically people with autism are really good at structured tasks, following processes, and attention to detail,” he says. “So we saw that there are really important skills that people with autism have that make them, in some cases, the best employees you could have.” (more…)

“For as the soil makes the sprout come up and a garden causes seeds to grow, so the Sovereign Lord will make righteousness and praise spring up before all nations.” -Isaiah 61:11

Jean Marie owns a restaurant and farm in southern Rwanda. After his first year in business, he worked with Urwego, a local micro-finance partner with HOPE International, to secure a loan to purchase more animals and improve his land’s fertility.

Today, he employs 8 people, supports 11 orphans, and has 5 children:

His story is another great example of how something as simple as access to capital can be a key to achieving success and stability in the developing world. And yet Jean Marie’s story points to something even more crucial: a love for Jesus, faithful obedience, and the fruit of both across family, community, and enterprise. (more…)