Posts tagged with: entrepreneurship

John Kennedy, President and CEO of Michigan-based Autocam, responded in an MLive.com editorial to President Obama’s recent remarks regarding business owners and their success. Obama stated, “If you’ve got a business — you didn’t build that. Somebody else made that happen.” Kennedy responded:

As a business founder, I particularly object to the claim, “If you’ve got a business – you didn’t build that. Somebody else made that happen.” I benefited from my dad, who helped instill the entrepreneurial spirit, when I founded Autocam. Our employees’ efforts enable us to offer high quality products. Many people have contributed, directly and indirectly, to our success. But it was my vision and leadership that allowed us to navigate troubled waters and to thrive.

Kennedy also noted a more general attitude about the government’s role in business that underlies the president’s remarks:

The president seems to indicate that the government (“somebody”) creates success through the services it provides for citizens. He fails to acknowledge that the government allocates funds taken from others, primarily from successful businesses and individuals. The government typically redistributes this money such that it only temporarily relieves some misery while creating dependency on government programs. In contrast, I believe that we are each called to contribute from our resources to build a healthy community. We should support those who, through no fault of their own, have suffered setbacks or need assistance to receive the education necessary for success.

Read the entire editorial here.

For more on this, see “Somebody else made that happen: tell it to an entrepreneur” and “Acton Commentary: It takes a village to raise a business”.

Blog author: John MacDhubhain
posted by on Wednesday, July 25, 2012

A Holland, Mich., teenager is being stopped from opening a hotdog cart due to city zoning laws. It’s really disheartening when you consider the fact that this young person was trying to be responsible and work to help his family and build up savings for his future.

In Work: The Meaning of Your Life, Lester DeKoster writes that work is a way in which we provide service to others—a service this teenager has been denied the chance to provide.

The Mackinac Center has a video up about this story.

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Last week, CBS Radio Philadelphia host Dom Giordano took to the airwaves to address President Obama’s “You didn’t get there on your own” speech. The speech, which garnered plenty of discussion at Acton and elsewhere, drew varied responses from Giordano’s radio audience. Among those responses were several callers who recommended Rev. Sirico’s latest book, Defending the Free Market: The Moral Case for a Free Economy, as a useful corrective to the President’s speech. This prompted Giordano to read the book and invite Sirico, who was in Hong Kong at the time, on his show. What followed was a fruitful discussion on entrepreneurship, capitalism, and free enterprise. Excerpted below is the answer Sirico gave to the question “Why is the free enterprise system moral?”:

It’s moral because it reflects human nature. Human beings are several things simultaneously. Human beings are individual and yet we’re in relationship. From the first moment of our existence, we’re a unique biological entity. But we’re also in relationship with our mothers in the womb but later on with friends and neighbors. You can’t have a market economy without a society. …

But the second thing we are–and this gets to the moral dimension of it–we are physical, obviously, but we also transcend our physicality. We know innately that we’re more than the sum total of our material parts. When you blend these things together, you have a market economy that is productive, that is social, that can be moral. …

We’re never really satisfied when we’re acting beneath our capacity to be beings of destiny, beings of purpose, noble beings that can create. The very act of the creation involves working with other people as well.

Full audio here:

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President Obama’s speech last week in which he asserted to businesspeople, “You didn’t build that,” has been getting some pretty harsh and some pretty hilarious responses.
In this week’s Acton Commentary, “It Takes a Village to Raise a Business,” I caution against responses that play into a simple individualist/collectivist dichotomy that underlays the president’s message:

We all know at some level that we didn’t get where we are on our own, and that we have an ongoing responsibility and dependence on others for our continuing enjoyment of the goods of human existence. Christians realize too that our independence and freedom is ultimately limited and dependent not simply on other people but on the grace of God.

So to President Obama’s problematic construal of the structure of society (essentially consisting of the individual and the helping hand of government), critics shouldn’t respond simply with the vehement assertion of naked individualism. Instead, we need to articulate a more balanced and accurate perspective, one that properly relates “independence and mutuality, individuality and community.”

One such response from Hunter Baker is here, and is worth checking out.

On Friday, President Obama, during a campaign event in Virginia, told the crowd that people with successful businesses couldn’t give themselves a bit of credit:

Look, if you’ve been successful, you didn’t get there on your own.  You didn’t get there on your own.  I’m always struck by people who think, well, it must be because I was just so smart….Somebody helped to create this unbelievable American system that we have that allowed you to thrive.  Somebody invested in roads and bridges.  If you’ve got a business — you didn’t build that.  Somebody else made that happen.

There are a number of people who might be startled to hear this. In The Call of the Entrepreneur, three men describe how they did “get there on their own”. For instance, Brad Morgan, a dairy farmer from Michigan, had to figure out how to save his failing dairy farm. And he did. HE did: not a government program, not a nebulous “somebody”, but Mr. Morgan himself.

In his book The Entrepreneurial Vocation, Rev. Robert Sirico says this about the men and women who take financial risks to create jobs for themselves and others:

What is unique about the institution of entrepreneurship is that it requires no third-party intervention either to establish or to maintain it. It requires no governmental program or governmental manuals. It does not require low-interest loans, special tax treatment, or public subsidies. It does not even require specialized education or a prestigious degree. Entrepreneurship is an institution that develops organically from human intelligence situated in the context of the natural order of liberty.

To tell a person who has made personal and financial sacrifices to create wealth for themselves and others that he or she owes it all to someone else…well. Maybe that’s the way it plays in politics, but not in entrepreneurship. Certainly, there is always room to recognize those who have helped along the way: mentors, guides, partners and cheerleaders, but the creators of wealth and business know that the words of Frank Sinatra ring true: I did it my way.

I saw Joe Carter’s post on Entrepreneurship and Poverty earlier today, and it got me thinking back to a subject that has been nagging at me for quite a while. It seems to me that starting a business is simply too hard these days, and for rather artificial reasons. But perhaps I’m just biased, and it’s not as hard as I thought? Seeking the truth, I did what any millennial would do and consulted google.

What I found was a fascinating article from John Stossel. In it, he details all the regulatory hoops he would have to jump through in order to engage in the most basic from of entrepreneurship in Americana: the lemonade stand. (more…)

Back in February I argued that since bias is inherent in institutions we should encourage the government to be biased toward entrepreneurship and away from corporatism. The result of such a bias would be to favor newer—and presumably smaller—businesses over more established—and presumably larger—ones, thereby reducing the levels of regulatory capture and crony capitalism (at least in theory).

An implicit assumption in my post was that we should value small businesses. But Veronique de Rugy had made a compelling case against “America’s Small-Business Fetish” that has caused me to modify my position:
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Harvard economics professor Edward Glaeser explains why entrepreneurs are important for our struggling economy:

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Rudy Carrasaco, US Regional Director for Partners World Wide speaks today at the Acton Lecture Series about Business as Mission 2.0.

Take a look at this short video of Rudy on Business as Mission and Transforming Communities that we did for PovertyCure. Rudy will be featured in the forthcoming PovertyCure curriculum.

Rudy will discuss the guiding principles of Business as Mission (BAM) which affirm human dignity and provide a foundation for businesses that seek to honor God.

2012 marks the launch of the 2nd Global Think Tank on Business as Mission as part of the Lausanne Forum for World Evangelization. This consultative process will reach every corner of the globe, invigorate the movement with case studies and lessons learned, and explore innovative development in sub-fields like BAM and Human Trafficking, BAM-in-a-Box, and BAM that alleviates U.S. poverty.

Visit Rudy’s Voices page at PovertyCure and learn more about the PovertyCure Project here

Yesterday I argued that since bias is inherent in institutions and neutrality between individual and social spheres is illusory we should harness and direct the bias of institutions towards a free and virtuous society characterized by individual liberty and sustained by religious principles.

One of the ways we can do that in the economic realm, I believe, is to encourage a bias toward entrepreneurship and away from corporatism. As Derek Thompson, a senior editor at The Atlantic, says, “It would be naive to think we can cleanse the law of all biases. But what if the law were biased, not toward the oil and gas industry or the cotton farmers, but toward the creative, the self-employed, and the entrepreneurs?”

Thompson proposes a new framework for competitiveness:

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