Warning: If you have no interest in economics, skip this article. If you do, this should get your attention.
Modern Monetary Theory is a macroeconomic theory that contends that a country that operates with a sovereign currency has a degree of freedom in their fiscal and monetary policy which means government spending is never revenue constrained, but rather only limited by inflation.
Do you really think Bing Crosby and Bob Hope paid 90% of their income to the taxman?
Ivy League schools are highly selective and extremely hard to get into. But the good news is that all these universities now offer free online courses across multiple online course platforms.
First, almost all entrepreneurs don’t make an abnormal amount of money, even of the successful ones. They make the same amount as if they were doing the same job for someone else. This is not what our entrepreneurial mythology tells us, so some explanation.
Obviously, some entrepreneurs do make a lot of money. This is the second part of Schumpeter’s argument. Those that make money, an entrepreneurial profit, do so by breaking the status quo. They innovate. They either get their inputs for less or they sell their outputs for more.
Number 2 is my favorite: Network intensely. Luck plays a big role in life, and there is no better way to increase your luck than by knowing as many people as possible. Nurture your network by sending articles, books and emails to people to show you’re thinking about them. Write op-eds and thought pieces for major publications. Organize discussion groups to bring your thoughtful friends together