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« Who Killed Jesus? | Main | Ironically, This Post Is A Month Late » February 26, 2004Delayed ReactionJeff Cornwall points to and comments on Jeremy Wright's blog post about the value of holding on to a business instead of selling out too early. Wright looks at the bottom line - and makes some good points. Cornwall's focus is the moral implications of entrepeneurs who are considering cashing out their ventures early on: Free enterprise involves a social contract that requires some level of responsibility by entrepreneurs to their communities. The quickest road to increased regulation of business is to ignore the role of stewardship that all entrepreneurs have in our economic system. And quick exits that focus only on short term financial gains move regulation and government scrutiny into the fast lane.I have a gut feeling Cornwall's right, that by focusing too much short-term gain business invites more government involvment, but I couldn't explain why, exactly, that is the case. Perhaps Cornwall will in a future post. Posted in Economy & Business
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I have a gut feeling Cornwall's right, that by focusing too much short-term gain business invites more government involvment,but I couldn't explain why... As a general statement, I agree- and my Libertarian instinct says, "Because government always expands..."- especially when people are so nosy and rude as to feel there is a "moral issue" when someone else chooses to sell their own property. Free enterprise involves a social contract that requires some level of responsibility by entrepreneurs to their communities. I disagree completely with the idea that "entrepreneurs" should be discouraged from "cashing out" early. If the "entrepreneur" sells out, it is only becuase someone else has chosen to buy in- doesn't the new buyer "assume" this abstract "social contract with the community" along with the business? Inventing a new product or process, and/or managing a business "start-up" is a much different animal than marketing your idea, servicing your customers, and the logistics of managing a mature business. How can anyone other than willing buyers and sellers determine exactly when a change in ownership is appropriate? Is it one month? One year? 2 years, 11 months, and 29 days?
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