Entrepreneurs and markets, who needs ‘em?

(CCU Faculty) “We won’t have any trouble about inventors under Socialism, for there won’t be any.” So wrote F. G. R. Gordon “agitator and author,” in a letter to the editor of the New York Times in 1909. “The non-competitive system will tend to discourage genius.” Entrepreneurs, inventors and innovators are found to varying degrees in virtually all political economies around the world. In the past they have been referred to as capitalist pigs for various reasons. This human livestock is responsible for the creation of every single technological disruption caused through virtually every innovation and invention that mankind has put into use. How many resources have been wasted in the failures of those who tried and lost? How many jobs have vanished?