hroughout centuries, entrepreneurs have created products and services that enrich our lives. Their main driver is their own self-interest and the prospect of making a profit, that enables them to not only sustain themselves, but to grow their businesses.

Yet society tells entrepreneurs to sacrifice, to serve others, to “give back” — counting on their acceptance of self-interest as a moral crime, with chronic guilt its penance. Is it any wonder that entrepreneurial giants from John D. Rockefeller to Bill Gates have behaved as if profit-making leaves a moral stain that only tireless philanthropy can launder but never fully remove?

It is time for the world to pay tribute to the entrepreneurs who have created the foundation of our most flourishing societies and in this lecture, Yaron does just that.

Recorded on November 21, 2019 at the Austrian Economics Center / Hayek Institute in Vienna, Austria.

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