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RISK TAX, ENTREPRENEURIAL CAPITALISM, AND ENTREPRENEURSHIP 101

The essence of healthy, dynamic, wealth-and job-creating capitalism is risk-taking entrepreneurship and private enterprise. If everybody were content to be a salaried worker, the economy would be permanently stuck in first gear. Even worse, if everybody were salaried workers working for the government, there would be mile-long queues for basic necessities such as bread and toilet paper, nightmares that occurred on a regular basis in Moscow, Warsaw and elsewhere under communism. In the absence of risk-taking entrepreneurship and private enterprise, there would be no plethora of new products, services and technologies, there would be no iPhones, and there would be no material abundance. In short, a world where everybody is content to work for somebody else would be a much poorer and much less interesting world. In fact, such a world would feel like a puddle of stagnant water, listless, lifeless and hopeless…