Free markets encourage entrepreneurship. Free markets create conditions that not only make entrepreneurs possible, but inevitable, as the entrepreneurship is the only way to get rich and stay rich in a free market system. Entrepreneurs not only create wealth, they also cause redistribution of the existing wealth. Those who use their existing wealth to invest in the ideas of the entrepreneurs, gain over those who don't. In fact, the new ventures of the entrepreneurs may in fact force existing ventures to decline or may even render them worthless, causing erosion or disappearance of the wealth of the currently wealthy sections of the society. Success of one entrepreneur in disrupting the existing order gives rise to hitherto unknown occupations, giving rise to even more entrepreneurs. This causes what is known as 'circulation of elites.' That is, there is an elite, but now different people are in it. Workers also gain in that they get better jobs, and better paying jobs. Job of a security guard at the entrance of a mall is better, and better paying than that of a farm worker.
Entrepreneurs: The Best Wealth Redistributers
Entrepreneurs: The Best Wealth Redistributers
Entrepreneurs: The Best Wealth Redistributers
Free markets encourage entrepreneurship. Free markets create conditions that not only make entrepreneurs possible, but inevitable, as the entrepreneurship is the only way to get rich and stay rich in a free market system. Entrepreneurs not only create wealth, they also cause redistribution of the existing wealth. Those who use their existing wealth to invest in the ideas of the entrepreneurs, gain over those who don't. In fact, the new ventures of the entrepreneurs may in fact force existing ventures to decline or may even render them worthless, causing erosion or disappearance of the wealth of the currently wealthy sections of the society. Success of one entrepreneur in disrupting the existing order gives rise to hitherto unknown occupations, giving rise to even more entrepreneurs. This causes what is known as 'circulation of elites.' That is, there is an elite, but now different people are in it. Workers also gain in that they get better jobs, and better paying jobs. Job of a security guard at the entrance of a mall is better, and better paying than that of a farm worker.