by John Tamny
The American Institute for Economic Research
It’s been said here before and it should be said again: every new American business is a bit of a miracle. That’s the case because the conceit of a new commercial endeavor is that the people in the world’s most capitalist country haven’t fully met the needs of their customers such that a new operation rates creation.
If the correct definition of an entrepreneur is someone who believes deeply in an idea despite near universal skepticism about same (never forget that Jeff Bezos and his early Amazon shareholders were broadly ridiculed….), then the creator of a new business of any stripe is similarly revealing impressive courage. Implicit in any start-up is that some of the world’s most energetic people are not doing enough.
The tragedy right now is that the energetic are seeing their visions and dreams suffocated around the U.S. Even though the pre-Covid success of their businesses was a happy sign that they possessed an expertise when it came to fulfilling the wants of a customer base with voluminous choices, politicians gulled by experts decided the past didn’t matter.