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The Significance of Voluntary Transactions

One of the fundamental underpinnings of modern capitalism is the voluntariness of the transactions that make up the commerce in a capitalistic society. My patronage of a coffee shop, and the subsequent exchange of $4.00 for an eggnog latte, is voluntary by both parties to the transaction: I didn’t have to buy the latte, and the [...]

It's a Marathon, not a Sprint

Contrary to our society’s romanticized vision of an entrepreneur’s life, success takes a long time to come (if it ever does). While there are famous counter-examples, in the overwhelming number of cases, success takes years and even decades of hard work.

I post on this topic today because it’s a particularly important issue to me, because it’s [...]