Wealth is something that we all strive for as a society but only a select few are able to achieve it and sustain it for years to come. Wealth is something that takes years and years of hard work often times. It is also something that often takes lots of risk in order to get to where it can be successful. The greatest entrepreneurs know and understand this, and that is why they are as successful as they are today. They also understand that it takes many years of learning and sometimes learning the hard way in order to sustain a successful venture. I really like how Gilder opens up in chapter three by stating that capitalism is started with giving and not being greedy. There are many greedy people out there so it is important to be successful to not be greedy and to always do things the right way. After all, being successful but having to lie and cheat to get there will only hurt you in the long run anyway. The overwhelming weight of evidence points to empathy as the true engine of capitalism, not greed. Understanding another person's thoughts and motivations requires empathy. And this is the quality that distinguishes successful entrepreneurs the most. Gilder highlights many key aspects in his article, opening the eyes of his reader. Gilder rightly replaces many of the distanced, materialist assumptions about economic reality that a large part of the economics profession holds, in favor of a more realistic analysis of the way the economy works that focuses on human originality, entrepreneurship, and a wide range of individual incentives.
Gilder gives supply-side economics, which focuses on giving people the means and incentives to collaborate, generate, innovate, engage, save, and take risks, the rightful place of importance over demand-side managing the economy and wealth redistribution, both of which have failed in the past. Risk taking is one of the scariest parts about becoming an entrepreneur, and not taking these common traits seriously can force your venture to fail which takes the wealth away and changes things.
Nonetheless, however complex and tangled in motive and historical
development
Gilder takes another stab at highlighting the importance of not being greedy in capitalism. I really like what he is trying to say in this statement, he is stating that although we have seen many entrepreneurs fail due to greed, or not collaborating well, it is a good reminder to us that we should continue to keep our heads down and keep working hard. Greed can make someone lose sight of what is truly important, and can even damage relationships in and out of the workforce, so it is something that cannot be involved in everyday work.
I really like what Gilder is referring to when he discussed "feasting" and how he uses it in his article to continue to highlight his main point he is trying to make. He is stating that when you as an entrepreneur work harder than everyone else, and continue to do so for years, it can be one of the most rewarding things to just sit back and take everything in when it begins to take off and become a successful venture on its own. Almost anyone can be an entrepreneur, but not everyone can be a successful entrepreneur. Many successful entrepreneurs are some of the absolute hardest working people around, and for that reason they are able to provide successful ventures. There are many bumps in the road when in the entrepreneurial field, but keeping your head down and continuing to work is what sets the good apart from the bad and keeps their ventures up and running for many years to come. Not everyone will always believe in you or your venture, but as long as you do, and continue with your moderate risks, it is likely to pay off in the end.
Capitalists are able to establish wealth through feasting, because of their work and determination.
Within the framework of the capitalist system, there are, without a doubt, examples of businesses that have behaved in a self-centered manner and lost sight of the desires and requirements of their customers. Wealth can change people often times, and can be for the worst in many cases. Losing sight of what you started the business can do is something that can happen but it is important to not allow it to happen. As your business grows, and you establish wealth it is so crucial that you continue to do great work and continue with the great relationships you have made along the way. Wealth is what we all strive for and is why we get into the things that we get in to, but it is important to stay humble and do not fall to greed, because it can cause the venture to fail.
