Capitalism, Hard work, Economists and Businessman

Today I am letting you make the connections yourselves. Yesterday I read three interesting articles. I am not sure how they connect. I am still trying to make the connections myself. Here are my favorite quotes from each:

Capitalism

For all its obvious blemishes and needed reforms, capitalism alone holds out the most creative and dynamic force that any civilization has ever discovered: the power of the free, ambitious individual (George M. Taber in A Question Revisited: Is Capitalism Working?)

Hard work

It’s hard work to make difficult emotional decisions, such as quitting a job and setting out on your own. It’s hard work to invent a new system, service, or process that’s remarkable. It’s hard work to tell your boss that he’s being intellectually and emotionally lazy. It’s easier to stand by and watch the company fade into oblivion. It’s hard work to tell senior management to abandon something that it has been doing for a long time in favor of a new and apparently risky alternative. It’s hard work to make good decisions with less than all of the data. (Seth Godin in A Brief History of Hard Work, Adjusted for Risk)

 Economists and Businessman

Keynes was right: Economics is a difficult and technical subject. It is no harder to be a good economist than it is to be a good business executive. (In fact, it is probably easier, because the competition is less intense.) However, economics and business are not the same subject, and mastery of one does not ensure comprehension, let alone mastery, of the other. A successful business leader is no more likely to be an expert on economics than on military strategy (Paul Krugman in A Country Is Not a Company)

Hhow do you think these three ideas connect?

Elad

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