Chris Banescu

Five Myths About Free Enterprise

Free Enterprise Free-Markets Ethical Capitalism by Arthur Brooks –
The 2012 presidential campaign is shaping up to be a battle of two economic philosophies. One favors a greater redistributive and regulatory role for the government; the other prioritizes the values of free enterprise, including private property, individual liberty and limited government. Given the economic hardships the United States has endured in recent years, it is tempting to conclude that free markets are no longer best for us — but that would misread our history, and buy into myths about the impact of free enterprise.

1. Free enterprise hurts the poor.
The Occupy Wall Street movement of 2011 and plenty of politicians would have us believe that the free-market system is a contest between the ultra-rich and everyone else (the “99 percent”). But in fact, there never has been a greater force for helping the poor than free enterprise. [Read more…]

Changing Education Paradigms

Changing Education Paradigms Sir Ken Robinson In this talk from RSA Animate, Sir Ken Robinson lays out the link between 3 troubling trends: rising drop-out rates, schools’ dwindling stake in the arts, and ADHD. An important, timely talk for parents and teachers.

Creativity expert Sir Ken Robinson challenges the way we’re educating our children. He champions a radical rethink of our school systems, to cultivate creativity and acknowledge multiple types of intelligence.

The animation in the video below is very good and illustrates his points well. The transcript of his lecture is also include underneath the video. [Read more…]

Win an Olympic Medal, Pay the IRS

Win an Olympic Medals, Pay the IRS by Chris Banescu –
What better way for the U.S. government to “thank” our Olympic athletes for all the years of hard work, enormous efforts, and many personal and financial sacrifices in pursuit of excellence, than to compel them to pay taxes on their Olympic medals and prize money. Yes, my fellow Americans, U.S. Olympians must pay income taxes on both the medals and the prize money granted for gold, silver, and bronze.

Besides the actual gold, silver, and bronze medals given to the top three Olympians in each event, prizes are also awarded. For the London Olympics athletes receive $25,000 for gold, $15,000 for silver, and $10,000 for bronze.

According to the IRS, American medalists must report as income not only their prize money but also the market value of the actual metal in each medal they win. [Read more…]

Discern Truth and Solve Problems

Discern truth and solve problems
Life is a continuous journey in discerning truth and solving problems. Courage gives us the determination to accept truth. Discipline allows us to consistently and creatively deal with the problems.

Mistakes don’t become failures until we refuse to correct them. Often, long-term failures develop when we purposely ignore truth and make excuses instead of taking the necessary steps to correct our mistakes.

(Photo credit Pixabay)

Economy Is Tanking; Why Are Markets Up?

Markets Up Mitt Romney Responsible by Chris Banescu –
The latest economic data released Thursday confirms what all Americans, especially business owners, already knew.  Economic growth has slowed down to a measly 1.5% (from 2% the previous quarter), job growth continues to languish with nationwide unemployment at a dismal 8.2%, consumer confidence has fallen to its lowest level this year, and consumer spending is also tanking.  Household purchases, which represent approximately 70% of GDP, grew at the slowest pace in a year.  Recent surveys show that Americans have lost approximately 40% of their net worth in the last few years, and poverty rates are reaching levels not seen in this country since the 1960s.

So, why are the markets up?  [Read more…]

Seven Reasons Why Venture Capitalists Will Hate Your Idea

Entrepreneurship Venture Capitalists by Josh Linkner –
Having witnessed thousands of entrepreneurial pitches as a venture capitalist, I’ve seen the gamut from the good, the bad and the ugly. Of the pitches any VC sees, very few will actually receive funding; there are a lot of factors in that equation, so even for those companies that might be appealing, terms, location, market share, traction and other hurdles sometimes get in the way of signing a check.

However, you’ve got no shot at funding if your potential venture capitalist flat-out hates your idea. If your “next great” idea has any of the following characteristics, there’s a solid chance a VC isn’t going to dig it. [Read more…]

What Would Winston Do?

Winston Churchill Leadership In 1940, a war-weary Britain was on the verge of capitulation. Here’s how Churchill turned it around–and what it means for you.

by Hitendra Wadhwa –
In 1940, when Winston Churchill became Prime Minister of Great Britain, the nation was in a state of severe crisis. Not only had its military suffered several setbacks in World War II, but the Prime Minister’s war Cabinet, deeply demoralized, was pushing Churchill to reach out to Italy’s Benito Mussolini to help orchestrate a truce with Hitler.

Churchill knew that Hitler could not be trusted and that negotiating with him would effectively constitute surrender. He desperately needed to win over his Cabinet. So he told them, “I am convinced that every man of you would rise up and tear me down from my place if I were for one moment to contemplate parley or surrender. If this long island story of ours is to last, let it end only when each one of us lies choking in his own blood upon the ground.” The response? A standing ovation. The voices of appeasement were quelled. [Read more…]