The Spirit of Enterprise

by George Gilder

Book Overview

In an ode to entrepreneurs, Gilder mixes theory with actual biographical portraits to explore the impact of enterprise on business and technology. The result is a commanding encapsulation of the soul... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 067145482X
• ISBN13: 9780671454821
• Release Date: January 1984
• Publisher: Simon & Schuster
• Length: 274 Pages
• Weight: 1.35 lbs.

Customer Reviews

Europeanization of U.S economy will destroy new job creation

Neither Europe nor Japan were creating new jobs in the early eighties only America was creating jobs. Europeanation and modeling after a welfare nation did not make sense. The fact proven was Welfare nations do not create jobs. Economist had been telling the Americans to look to the welfare states of Europe for lessons in job creation and competitiveness. However, since 1974, U.S economy has created 23 million new jobs, accepted 12 million immigrant, whereas, the Europen Economic Community EEC has not add new jobs and EEC sent home millions of oversea workers and EEC laquished in $100 billion in government subsidies and EEC lost 10 percent of its manufacturing jobs. Entreprenaurs are always preoccuppied with capital gains. Capital gains give Capitalist the operating capital to create new markets, new jobs, tax revenue, and revive the economy. In 1978, the capital gain tax cut cause entreprenaurs to make new commitments of venture capital rising fifteen fold; between 1977-1978 venture capital investments rose from $39 million to $570 million and by 1981 hitting $1.4 billion. In 1981, the tax rate cut dropped for long term capital gain to 20 percent and by 1983 venture funds soared to $11.5 billion. In 1982, economist were speaking of a new great depression; yet venture outlays rose to $1.8 billion and from 1973 to 1983 major venture capitals soared from 25 to 200 new markets. The General Accounting Office accessed the impact of the 1978 tax cut stating 72 companies were launched with $209 million in venture funds directly creating 135,000 jobs and generated $350 million in federal tax revenues; by 1981, there were $7 billion worth of venture capital outlays, 4 million jobs created, $12 billion in tax revenue, and $31 billion in new exports between 1981 through 1986. When economies become stagnate companies and governments want to raise prices. Profit problems and cost pressures entice the companies and governments to raise their price. However, in every case this makes the profit problem worst because raising prices attack new competition. In governments the competition is special interest group seeking more government help and in companies it is other companies seeking a share of the prize. The rising price cause a decline in efficiency and morale. On the other hand lower prices bring a larger share of the market because they cause innovation that allows increases in economy of scale. The unexpected breathroughs in technology allow sudden bursts of profit growth and cost reduction. These are dynamic gains. Taxes cuts reduce the price for business giving profits to growth new markets and create new jobs. Tax cuts move business from the social business to the private business to administer and grow new jobs. The best investment to politics is a transformation of the U.S tax structure. Laffer suggested a flat tax rate of 11.5 percent. Entreprenaurs are eager to move into new mandates and new markets. Entreprenaurs i