Tag: Entrepreneurship
Wichita and the Old Town Warren Theater Loan
Remarks to be delivered to the Wichita City Council, July 1, 2008. Mr. Mayor and members of the Council, we are potentially beginning a journey down a road where there are two classes of businesses in Wichita. There are business owners who seek to earn their profit through market entrepreneurship, that is, by meeting the…
The Entrepreneur As American Hero
Here’s Williams’ law: Whenever the profit incentive is missing, the probability that people’s wants can be safely ignored is the greatest. If a poll were taken asking people which services they are most satisfied with and which they are most dissatisfied with, for-profit organizations (supermarkets, computer companies and video stores) would dominate the first list…
The Value of the Businessman
An outstanding feature of the open market is the businessman, whose success or failure depends entirely on his ability to “focus on consumer needs” and so combine existing and potential factors of production to serve consumers most efficiently. The only constructive role government can play under the free market method of overcoming poverty is to…