Chris Banescu

Government Spending Does Not Create Economic Growth

Government Spending Does Not Create Economic Growth If you knew a dollar invested in something would wind up losing more than a dollar, would you consider that a good investment?

The government does just that when it starts spending taxpayer dollars or borrowed money which future generations must pay back with interest. In the video below Professor Antony Davies of Duquesne University explains the unseen costs of government spending and the best way to stimulate the economy: the private sector.

Professor Antony Davies explains:

“There’s a misconception that when the government spends money it creates jobs. … What we’re forgetting is that the money doesn’t fall from space. The government obtains the money by taxing or borrowing. And when it does those things jobs are destroyed.

So at the end of the day the government isn’t creating jobs, it’s moving jobs. Jobs leave where the government taxes and borrows and appear where the government spends.” [Read more…]

Ten Enemies of Personal Greatness

Enemies of Personal Greatnessby Marc Chernoff –
Beware!  These ten inner enemies can quickly erode your grandest plans and your noblest intentions.  They can drain your life of passion and potential, and fill your spirit with lifelong regret.

  1. Always taking the path of least resistance. – Just because you are struggling does NOT mean you are failing.  Every great success requires some kind of struggle to get there.  Good things don’t come to those who wait.  Good things come to those who work hard and struggle to pursue the goals and dreams they believe in.
  2. Comparing yourself to everyone else. – You will never fully believe in yourself if you keep comparing yourself to everyone else.  Being true to yourself in thoughts, words and actions is as important as being kind and true to others.
  3. Worrying too much about what others think of you. – As long as you are worried about what others think of you, you are owned by them.  Only when you require no approval from outside yourself can you own yourself.  If you’re being true to yourself and it isn’t enough for the people around you, change the people around you.[Read more…]

When Is It Time to Throw in the Towel?

Time to Throw in the Towel by Chris Banescu –
This is an interesting perspective from veteran entrepreneur and Inc. magazine columnist Norm Brodsky. Most entrepreneurs are independent, visionary, and courageous spirits driven to work had and achieve success regardless of personal sacrifices and risks. However, there are situations in which no matter how hard we work we may need to throw in the towel and chose to pursue a different venture or path; while still taking away critical lessons and experiences that can be invaluable.

Passion, vision, and drive are important attributes of all entrepreneurs, but so is pragmatism. Sometimes walking away from an unprofitable business or problematic venture is the best solution in the greater scheme of things. Luckily, the lessons learned and knowledge gained from such situations will be useful in future business or other entrepreneurial endeavors. [Read more…]

Why Most Ideas are Worthless

Most Ideas are Worthless By focusing less on your next “big idea” and more on the actual execution, you’ll have a better chance of building a successful new business.

by Karl Stark and Bill Stewart –
Maybe it’s the Facebook craze, or the warped view of entrepreneurialism that Hollywood and mainstream media have created. For ages, young and hopeful entrepreneurs have embraced the fallacy that great ideas are the root of entrepreneurial success and instant wealth. People say, “If only I would have thought of that, I’d be rich!”

Those of us who have built businesses know that success is rarely about the breakthrough idea. Clearly, a good idea is important, but it’s just not the source of limitless riches. Real entrepreneurial success most often comes from hard work, risk-taking, and developing a product or solution that creates real value for customers. [Read more…]

Simplifying the Tax Code

Simplifying the Tax Code Paying taxes can be tough — it’s complex, convoluted, time consuming, and often very frustrating. The US Tax Code has become a monstrosity that destroys competitiveness and productivity. It must be radically simplified!

In this video Randall Holcombe, Professor of Economics, explains how we can simplify the tax code by eliminating loopholes for special interests and lowering tax rates and how this helps improve economic growth and promotes wealth creation. [Read more…]

The Only Thing that Really Matters

The Only Thing that Really Matters by Tony Schwartz –
Think for a moment of the last time you felt triggered — pushed into negative emotions by someone or something. Here, for example, are several of my triggers: feeling taken advantage of, not getting a response to an email I’ve sent to someone, and not being acknowledged for good work I’ve done.

We move into negative emotions — what we call the “Survival Zone” in our work at The Energy Project — when we feel a sense of threat or danger.

But what is the threat exactly? Over the past decade, my colleagues and I have asked thousands of our clients to describe something that consistently triggers them and then explain why.

Remarkably, we’ve found that a trigger can almost always be traced to the same root cause: the feeling of being devalued or diminished by someone else’s words or behavior. Consider my triggers above. [Read more…]

No Excuses – Motivation and Hard Work Make Dreams Into Realities

Motivation and Sacrifices Make Dreams Into Realitiesby Chris Banescu –

What is your goal in life? What is your dream?

A dream must be acted upon to have any chance of success. It can only be achieved if we have the passion, motivation, discipline, and determination to pursue it with our whole heart and mind. Our dream must have our full focus, attention, and energy. We must be willing and able to do the hard work necessary to make it become a reality. Just like a “faith without works is dead,” a dream without works and sacrifices is just a fantasy, a delusion.

Don’t let your fears stand in the way of your dreams. It is better to have tried and failed than to never have tried at all. Regret is worse than failure! [Read more…]