In the market, the individual takes the risk to find out if the results of his or her efforts create value for others, both moral and commercial. Everyone does their best, and the preferences of consumers tell producers what to produce more of and less of.
About Hunter Hastings
Hunter Hastings is the Executive Director at Center for Individualism. He's an economist, venture capitalist, and lifelong advocate for liberty, economic freedom, and individual entrepreneurship.
Hunter’s current research is focused on the intersection of 21st century individualism, emerging technology and the radical decentralization that is freeing markets and creating a new spectrum of individual opportunity. His newest book is The Interconnected Individual, co-authored with Jeff Saperstein, to be published by Business Expert Press in 2018.
What if we had a President whose brand was built around the promise of being the best person he could, and helping all Americans to be the most productive they could be, and helping the country to achieve peak performance, focusing on the most important contributory factors and eschewing the political distractions that get in the way? What if any politician were to build such a brand and make such a commitment? It would be nice if one of them read Tom Brady’s book and reflected on the difference between personal peak performance and political performance.
So-called socially responsible investing purports to seek out companies who contribute most to society. Profits are the signal that society benefits from a company’s commercial activities. Look no further.
Professor Skousen relates marginal value to investing in the stock market. First, all prices on the stock market are created by a relatively few marginal buyers and sellers. Only a few of them call their broker or click the trade button on their E-Trade dashboard on any given day. Therefore, it takes only a marginal shift in investor sentiment to change the direction or accelerate the movement of stock prices on that day.
The emergent technologies of A.I., cloud computing, and global talent and commerce platforms will place increased demands on each of us to define our specialist value, specialist skills and specialist contribution in the interconnected global economy. These are the aptitudes required to meet those demands.
We can all ask ourselves the individual entrepreneur’s questions: Who Am I? What Do I Know? Who Do I Know? What Are My Resources? How Do I Contribute? How Do I Serve Others? Technology will be an augmenting factor, helping the individual to answer these questions and support the action plan that emerges.
Changing the way we look at the world is exactly what we all need to do in order to appreciate the potential for spontaneous order in society. So let’s listen to Sharon Glotzer’s story.
Spontaneous order is the happy result that emerges as the best outcome for all participants when there is no government, no hierarchy, no control and no central direction, just a few general rules that apply to everyone equally. When systems are left to operate under these conditions, order emerges. There’s now a process that captures the concept: inverse design.
Digital entrepreneurs – “inno-mediaries” – are shaping markets as they create the new ways of developing, diffusing and using knowledge, and new ways to generate and promote innovation. They encourage new innovators to enter into the co-creation of innovation by enabling new practices through the use of diverse resources.
This interconnectedness of individual trees and animals, which nurtures the entire ecosystem, precisely reflects the nature of Individualism. Individualism is a system. Each individual extends branches and roots to become as strong as possible, and connects and communicates with others to make the forest strong, which is good for the forest and good for every tree.
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