ENTERPRENEURSHIP AND FREE SOCIETY
Entrepreneurs are of great importance to the national economy and, in the most way, change the mode to relate to our environments. This is through socio levels, work, and influence on government policies. Entrepreneurship is an act of creation, thus giving a sense of God’s image. Successful entrepreneurs have been able to bring calmness in the world through creation of essential ways to solve problems. Thus creating value in most ways unrecognized by others.
Entrepreneurship is highly driven by a combination of human contributions and thus has an origin from human labor to experience success and growth. In turn, Christianity brings the aspect of dignity within the entrepreneurship, and this brings respect to property rights. This, in turn, created fair wages and a reasonable return to the entrepreneur and the employees. Through entrepreneurship, competition is created and thus protecting the employers from enslaving employees and vice versa for employers. Consequently, it enables competition, property rights development by governments, and enlightening of the society. To achieve successful entrepreneurship human-to-human relationship needs to be good and in Christian view to be holy (Schweikart, 2009).
During 1929, the great depression lasted between 1929 and 1939. This happened after the stock markets crashed in October 1929 and thus sending investors away. Consequently, the consumer buying capacity and employment levels fell due to low industrial production. The economy had flourished well in 1920. An almost similar scenario of economic depression happened the year 2001 September 11; militants associated with Islamic religion attacked the United States, killing about 3000 people. This resulted in the closure of stock market exchanges for two days for the first time since the great depression. IT also led the government to spend heavily on terrorism and bringing terror policy on board. Immediately, the Federal Reserve dropped, and oil prices too fell. The government, under the leadership of President Bush, started to spend on the War in Iraq. This indeed rose the debt (Kimberly, 2020).
Entrepreneurs create new businesses to meet new demands where opportunities arise as well need to venture into entrepreneurship to close their income gaps (Sappin, 2016). This was well illustrated in the 1929 depression, where brewers invented into other new businesses in the dairies, butcheries, and agricultural products businesses. The brewers were able to venture into the non-alcoholic beers (Schweikart, 2009).
The other reason for entrepreneurship is to create meaningful employment to the people in the society. The government in the two great economic downtimes created policies that could go a long way to have this in place. This was also evidenced by enterprise contributions that ranged from the rejection of policies that did not support growth and social systems supporting the vulnerable groups (Sappin, 2016). President Roosevelt, when in office in 1932, changed the public policy in four ways, which included the expansion of the social insurance using an emergency relief act, empowering the unions, agriculture, and provision of federal jobs. Moving away from traditional industrial policies of democrat that were of mistrust to the regulatory policies. The president called for competitive business leadership and togetherness in his tenor. He promoted human competition and human rights consideration in seeking individualistic profits. The government came up with policies that realized fair game that limited production and pricing (Schweikart, 2009).
Innovation is well experienced in a competitive environment; this is reflected in the two economic downtimes in the history of the United States. During this great depression, the companies that thrived acted decisively to manage the cost bases allowing reducing the price for customers in the lower end. They came up with improved efficiency levels creating competition, thus meeting consumers’ needs in fair and diversified ways (Sappin, 2016). This was greatly evidenced in the motor industries, beer industry where non-alcoholic beer was introduced into the market with legality. Looking at the 9/11 attack, many technologies grew from here like the robots used in picking the debris; this has, in turn, gave rise to schools in robotics, indeed creating wealth, improving personal survival skills. It has also contributed to the innovation of more technologies that relate to safe piloting, more surveillance on terrorism (Kimberly, 2020).
In the b recession time, the enterprises the accounting firm needed efficient machines after the instruction on the social security policy this drove the IBM business into prosperity due to their improved efficiency in and gave it a new market place other than its competitors like the NCR. This was the same with the motor vehicle industry, where companies like Chrysler and General motors improve their efficiency in production, lowering cost and producing more robust machinery that appealed to the market and thus expansion (Schweikart, 2009). The change was observed on the efficiency in the insurance industry in the United States that could efficiently address terrorism risks, created more energy in the power companies (Kimberly, 2020).
The idea of economic integration involves limitations to the trade barriers, political, and communication barriers. Technology has increasingly contributed to the move from one point to the other element of goods as well as information. Industrial and human capita are viewed as sources of income in economic integration (Sappin, 2016). The September 9 2011 attack affected the economy integration due to the quest in better security policies. This greatly was an impeding factor to movement of goods and services thus affecting growth and expansion on smaller entrepreneurs. This greatly affected the demand of goods to the external market. This also gave rise to private security firms that are in line with the government to meet the security demands to enhance economic integration continuity. There are many raw materials sourced from high violence areas and moved to destination point for production (Schweikart, 2009).
The two economic down times have been of great importance to the entrepreneurship to achieving a free society that encompasses driven by innovations, freethinking, job creation. This can be related to the economy recoveries in the two scenarios. This has been done through the introduction of new services and goods, improved technology through thinking outside the box and continuous re-investment of their money into the society for improved social economic enlightenment. Other than the hard times that the two economic recession had on the wider population, they highly contributed to establishment of a free society in differing ways. We may conclude as the Bible states “God gives you the ability to produce wealth and confirms his covenant”
REFERENCES
Kimberly. (2020, February 22). the balance. How the 9/11 Attacks Affect the Economy Today.
Sappin, E. (2016, October 20). INNOVATION. 7 Ways Entrepreneurs Drive Economic Development. Retrieved from https://www.entrepreneur.com/article/283616
Schweikart, D. (2009). Schweikart & Doti. American entrepreneur. New York: AMACOM.