Word: entrepreneurs
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...form of Gresham's Law, bad planning by government drives out good planning by private people. No detailed plan emanating from a computer bank in some bureaucracy could ever store the information necessary to tell the would-be entrepreneur to open a new corner carry-out or Revlon to launch a new Charlie. No plan could foresee the economic effects of the overnight success of some new Xerox or IBM. Modern industrialized economics are far too complex to permit a rigid master plan. The state can provide its fallible view of future economic developments, but the best planning is still...
...philosophy in the 18th century, it represented a scandalous revolution in a world in which the individual was merely a subject of caste, church and state. Europe for centuries had been under the sway of authority and tradition. Everyone had a place, and there was no place for an entrepreneur. The early Church Father St. Jerome had said it all: "A man who is a merchant can seldom if ever please...
...avoid catering to a definite ideological clientele." But again this is a matter of degree. Circulation pays for barely a quarter of his paper's monthly cost, and advertising provides only an incremental addition. Because of the low literacy rate, "Readership is so limited that the entrepreneur does not think it worthwhile to advertise." The result: "You've got to be damn rich to subsidize your paper...
...butyl mercaptan is a light petroleum liquid whose skunklike odor is so foul that it is used for detecting leaks in natural-gas pipelines. Now a Texas entrepreneur named J.W. Small is promoting it as a rape repellent. Rapel, as his $9.95 product is called, is an inch-long plastic cylinder that contains a fragile glass ampoule of the obnoxious fluid. The pencil-thick device can be clipped to the inside of a dress, bra or nightgown; when pressed lightly, the ampoule breaks, releasing the ardor-killing odor. One rape crisis expert frets that Rapel "lulls the user into...
Americans have a friskily self-destructive habit of turning even their best impulses into junk and kitsch; a Beverly Hills hair salon lately had eight models in tank tops and khaki trousers parading around the shop carrying flags and sporting new "military" hair styles. The entrepreneur turns militarism into a profitable fad. Love of country, by such associations, comes to seem vaguely sick and stupid...