#13: Cult of the Entrepreneur (part 1)

 

Listen to Bernie Sanders, and you hear, loud and clear, what ails our economy: declining wages, income inequality, the vanishing middle class.

To Bernie, the cause of these problems is simple: Our economy and our political system are rigged against the little guy, who is getting crushed as the top one percent run off with all the money.  

Listen to Republicans, though, and their diagnosis is entirely different. For them, the bogeyman is The Government, which gets in our way, curtails our freedom, and snuffs out America’s entrepreneurial spirit.  

This disagreement, I think, is mostly rooted in a broader question, which is: 

Are the economic problems we face caused by structural weaknesses in our economy? Or are they causeby the character flaws of individuals?

Put another way: Have these problems emerged because things like technology, globalization, and deregulation have fundamentally reshaped our economy? Or are these economic inequalities the natural outcome of a competitive free market that, by design, produces winners and losers — and the losers should just quit whining and suck it up and try harder?

That’s what we explore in this episode, which includes part 1 of my interview with John Lee Dumas, host of the wildly successful podcast Entrepreneur on Fire

John’s skepticism about government activism, his lack of interest in politics, his faith in private enterprise and entrepreneurship — his whole worldview, really — that is what Bernie and his supporters are up against in this election... and beyond.