Comments on: Fooled by randomness http://blogs.cfr.org/shlaes/2009/01/05/fooled-by-randomness/ Just another Blogs.cfr.org weblog Tue, 02 Jun 2009 07:52:31 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Amity Shlaes http://blogs.cfr.org/shlaes/2009/01/05/fooled-by-randomness/#comment-65 Amity Shlaes Wed, 14 Jan 2009 01:29:14 +0000 http://blogs.cfr.org/shlaes/?p=74#comment-65 Thank you for writing! Enterprise can be defined lots of different ways. The issue in the kiddie tax is that growth does demand risks. The economy won't grow without someone taking risks, and sometimes the more risk taking that happens, the faster the real growth. If Herbert Hoover hadn't dared go to Asia to rationalize obscure mines, he never would have had the spectacular success he did have. He also wouldn't have helped the companies he did help (numerous) The group best designed to take those risks is young people. When we tax them this heavily on that very risk taking, we all lose a share of growth. Thank you for writing! Enterprise can be defined lots of different ways. The issue in the kiddie tax is that growth does demand risks. The economy won’t grow without someone taking risks, and sometimes the more risk taking that happens, the faster the real growth. If Herbert Hoover hadn’t dared go to Asia to rationalize obscure mines, he never would have had the spectacular success he did have. He also wouldn’t have helped the companies he did help (numerous)
The group best designed to take those risks is young people. When we tax them this heavily on that very risk taking, we all lose a share of growth.

]]> By: babar http://blogs.cfr.org/shlaes/2009/01/05/fooled-by-randomness/#comment-62 babar Fri, 09 Jan 2009 00:59:07 +0000 http://blogs.cfr.org/shlaes/?p=74#comment-62 i don't understand -- you seem to be suggesting that young people should take financial risks more or less recklessly, and because they are young we should support this? huh? i also don't understand -- your fundamental premise seems to be that investment equals entrepreneurship. again -- huh? entrepreneurship is investing in yourself and your own work, not investing in someone else's work. investing in someone else's work is going along for a free ride -- it is the opposite of entrepreneurship. i don’t understand — you seem to be suggesting that young people should take financial risks more or less recklessly, and because they are young we should support this? huh?

i also don’t understand — your fundamental premise seems to be that investment equals entrepreneurship. again — huh? entrepreneurship is investing in yourself and your own work, not investing in someone else’s work. investing in someone else’s work is going along for a free ride — it is the opposite of entrepreneurship.

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