The Destruction of a Wealth and Jobs Creator by Parasitical-Elites
James J. Hill was a 19th-century railroad entrepreneur. Hill was an integrated thinker who broke out of a restricted, one-country mode and began pushing into a worldwide mode. Unfortunately, just as Hill achieved great success in the American railroad industry and began spearheading an international expansion, his worldwide growth was snuffed out by glory-seeking politicians. The story of James J. Hill is documented in the book The Myth of the Robber Barons by Burton W. Folsom, Jr.
In that book, Folsom identifies how throughout history there have been two distinct types of entrepreneurs: political entrepreneurs and market entrepreneurs. Political entrepreneurs seek profits by working with the government to get subsidies, grants, and special privileges. In other words, political entrepreneurs seek success through political pull. In contrast, market entrepreneurs seek success by producing increasingly improved products and services at increasingly lower costs. The Destruction of a Wealth and Jobs Creator by Parasitical-Elites |