Doubts about Ed Phelps’ Cowboy Capitalism

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3 Responses

  1. Avatar dexter45 says:

    I live in Louisiana. Guess how little respect for the capitalist cowboy. I am convinced that god made fire ants so society would have a place for people who own a 560 million dollar rig and won’t spend 500 grand for and extra blowout preventer.Report

  2. Avatar dexter45 says:

    Sorry about the lack of proofreading. I have been sick for three days and this disaster on the coast did not help my ability to type or think coherently.Report

  3. Avatar Rufus says:

    Yeesh, I’m not great at Latin, but “innovaticus” sounds like bullshiticus to me. And that text reads like a bad 50s men’s magazine. “He’s a two-fisted dynamo with the guts to live his own way, and the savvy to make it work!”

    And you’re right about the motivation- I know a few people who started companies and did well, but if I knew someone whose reasoning behind that was, “I just wanted the thrill of maybe screwing up big time and losing my shirt! Wooh! What a rush!” I’d definitely not invest in their company. In my experience, people who are really good at turning a profit do not tend be the hot dogs- they tend to be very careful with the capital.Report

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