Economic growth comes from successful entrepreneurship that is also productive. And not all entrepreneurs who earn profits contribute to economic growth if they have unproductive — or, worse, destructive — effects on the economy.
If you are not happy with the results below please do another search
25 search results for: subjective value
When personal property becomes capital, a source of income, then the obvious implication is a decentralization of capital ownership.
Economics is about economizing. To economize means to allocate whatever scarce resources are available to you in a way that extracts from those resources the most of whatever it is you want. Time is one of those scarce resources – once we’ve used it up its gone, so we must make an economizing choice.
All human actions are driven by the force of entrepreneurship, which continually creates, discovers and transmits information, as it adjusts and coordinates the contradictory plans of the different individuals through competition and enables them to live and coexist in an increasingly rich and complex environment.
People make decisions based on the values they hold most dear. Those might be family values related to happiness, health and economic security. Or they may be the achievement ethics of hard work and duty. Or they may be broader values regarding helping others, or even saving the world through charity and conservation. All the economic choices people make are shaped by their values.
The unit of analysis for economics is the individual. If economics is to be a useful science, it will help individuals to make better decisions for themselves, in the context of productive collaboration with others. Let’s just help shed light on good economic decision making.
As the new year gets underway, why not make a goal to read more about the essential economic principles.
If one person can start thinking and living this way and making progress towards the goal, then another can, and another and pretty soon we have a movement. Let’s at least start contemplating the possibility.
St. Thomas Aquinas combined the classical Greek ideal of reason with the Christian ideal of equality to usher the Catholic Church, and humanity, into the Age of Reason. Metaphorically, he invented water – what we know as the Western ideals of personal liberty, self-reliance, invention, tolerance, and limited government. The ensuing prosperity from human creativity is Poetic Justice.
The future of innovation lies squarely in the initiatives of the independent, interconnected entrepreneur. As new technologies like A.I. and global idea exchange platforms augment individual capacity, the trend towards individually ideated innovation will accelerate.
STAY IN THE KNOW
Fill out the form below to get the CFI Newsletter delivered to your inbox.
Leave us your contact information below to recieve a free copy of CFI's 10-Point Manifesto for Individualism
Join the CFI Mailing List using the form below to recieve a free Sample Chapter of Hunter Hastings' The Interconnected Individualism
Leave us your contact information below to recieve a free copy of Poetic Justice Warrior Society: The Inventors
The Center for Individualism is a 501(c)3 Non-Profit Organization with a mission to promote Individualism in America. All work is licensed under a Creative Commons Attribution 4.0 International License, except for material where copyright is reserved by a party other than CFI. Learn More…