On entrepreneurship and democracy

March 16, 2009

“The movement that built the first national democracy was not triggered by an uprising of the masses; nor was it led by intellectual theorists. It was led by entrepreneurial men of means … . In fact, starting a business develops precisely the traits that make democracy work. It requires independence, much effort, and self-discipline – but also the ability to work with others and the recognition that you can only succeed by serving the needs of others.”

– Carl J. Schramm, “The Entrepreneurial Imperative,” p. 161

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