Spirit of Enterprise
Spirit of Enterprise is propagated by Mr. George Gilder, an economist and futurist. Mr. George Gilder challenges existing economic theories of both Keynesians and libertarians by placing creativity, innovation and entrepreneurship at the center of economic development. According to a study of US presidential speeches, Mr. Gilder was President Ronald Reagan’s most frequently quoted living author. In 1986, President Reagan gave George Gilder the White House Award for Entrepreneurial Excellence.
In the words of Mr. George Gilder:
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All economic systems reflect the intrinsic self concerns of human beings, but only capitalism creates a group of people known as entrepreneurs, who have no choice but to concern themselves with the needs and desires of others, the customers.
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Capitalism at its essence is a competition of giving. Of course, self-interest is involved. But the genius of capitalism, and only capitalism, is that it channels self-interest into altruism. Entrepreneurs can only help themselves by helping others. Capitalism is the supreme expression of human creativity and freedom, an economy of mind overcoming the constraints of material power. It is not simply a practical success. The means of production of entrepreneurs are not land, labor, or capital but minds and hearts. Enduring are only the contributions of mind and morality.
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Demand is homogenous and meaningless, all economic growth comes from human creativity and it comes as a surprise, it cannot be demanded. It is not dollar in people’s pocket but ideas in their heads that matters.
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Most successful entrepreneurs contribute far more to society than they ever recover. And most of them win no riches at all. They are the heroes of economic life. Mr. Gilder also challenges traditional notions that entrepreneurship arises from the selfish instincts of individuals. For Gilder, only by serving the needs of others does an entrepreneur achieve success. Thus, an entrepreneur sacrifices her personal pleasures and takes risks that have small chances of success to bring new products and services to market.
To read more about ‘Spirit of Enterprise’:-
Ronald Reagan and the Spirit of Free Enterprise
Why George Gilder is right about the role entrepreneurs play in driving the economy
Surprise and Creativity- Notes toward a new economics
George Gilder: The Real Reagan Lesson for Romney-Ryan
Article Database – George Gilder