Free markets create incentives to discover, invent, and improve. To do these things well, people often create corporations or partnerships. Others, hoping for a return, invest—that is, they risk their money by putting it to work in a way that they believe will create enough value for others that they will receive some value in return. American history bears witness that these incentives and structures do create value and wealth, just as world history shows the costs of allowing government to stifle them.

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Additional Resources

American Competitiveness

Most Americans cannot help but be affected by the rapid economic growth in other economies around the world, particularly in India, Eastern Europe, and China. The fact that people around the globe may well be on their way toward improved living standards is encouraging, but it is also a clear reminder of increased economic growth and wealth creation by potential or actual competitors in the world market. Here at home, many Americans are rightfully concerned that greater participation in the global marketplace means that American workers and businesses will face more intense pressure and competition and potentially less economic opportunity if they are not successful.

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Entrepreneurs can change the world.  They take one brilliant idea and give it form through pure force of will.  It is through their innovation that the oldest problems known to man can be solved, and through their efforts the best qualities of mankind can be put to use in the service of a better world.

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An Introduction to the Industrial Revolution

What was the industrial revolution? According to Dr. Stephen Davies, it was an extraordinarily innovative period in history that generated the highest living standards the world had ever seen. For instance, over the course of the 19th century, average per capita income in the United Kingdom rose by a factor of six. Why did this explosion of human flourishing take place? Dr. Stephen Davies claims that people began to embrace an engineering culture along with a respect for trade and business. It was this synergy of trade and engineering that led to a revolution in production and business organization.

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The Four Players Driving Innovation

Policymakers at both ends of Pennsylvania Avenue want to get the American economy growing again. Growth can lower unemployment, and it can yield the revenues needed to fill federal coffers. The key to robust economic growth is innovation. So how do we get it?

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American’s Healthy Infatuation With Entrepeneurs

“When entrepreneurs defy extraordinary odds, and succeed, we rejoice, for at the moment we can sense, if only fleetingly, the exceptional untapped potential within each of us.”–David Shaywitz, M.D.

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What to Do with Superachievers?

Steven Jobs, the late co-founder of Apple Computer, and Steven Chu, the current secretary of Energy, are both examples of super-achievers. Jobs created an innovative company that is currently among the most valuable in the world as measured by stock market capitalization. Chu earned a Nobel Prize in physics and sees himself as a leader in the battle against global warming.

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The Call of the Entrepreneur

A merchant banker. A failing dairy farmer. A refugee from Communist China. One risked his savings. One risked his farm. One risked his life.

Why do their stories matter? Because how we view entrepreneurs-as greedy or altruistic, as virtuous or vicious- shapes the destinies of individuals

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Are Entrepreneurs Modern Day Heroes?

Law professor Donna Matias defines an entrepreneur as someone able to identify and provide for an unmet need. In short, entrepreneurs are both problem solvers and wealth creators. Extremely successful entrepreneurs, therefore, are not evil. Rather, they are modern day heroes who have managed to effectively fulfill the needs of their consumers.

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The Vanishing Entrepreneur

Law professor Donna Matias knows how difficult it can be to start a new business. In her work as director of a legal clinic at the University of San Diego School of Law, she helps low- and moderate-income entrepreneurs navigate the legal hurdles they encounter. She tells the story of one client who wanted to operate a transportation service, and faced a mountain of challenges as a result.

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