The Thrill of Risks and the Role of Government
I don't like to get too political, but the role of government in creating and sustaining a thriving community is inevitable.
Watch from about 2:55-16:30.
This news segment compares the economies of the U.S., India and Hong Kong.
One of the largest, wealthiest cities on Earth created from practically nothing. As the video shows, it's incredibly easy to create your own business, but there is little to protect you. Entrepreneurs are free to achieve their dreams with very little to limit them.
Heavy regulation can delay new businesses or stop them from ever being created. There is much more poverty in India than in Hong Kong.
We're somewhere in between the two extremes here. We have laws that protect us, but at some point, having too many rules and regulations keep people from taking chances. Making mistakes is part of learning, but it seems we are starting to avoid healthy and even necessary risks. We don't want to lose anything, but by doing nothing, we lose everything we are capable of.
Where is the right balance between freedom and protection? Where is the balance between entrepreneurial freedom and protection of consumers and business owners?