Panel: Entrepreneurship and the Firm With George Bragues, Glenn Fox and William J. Corcoran

Related Discussions

  • Lincoln Gardner


    I know that project ideas are a dime a dozen. They are useful only if someone takes them and executes a plan to make them a reality. The idea I’d like to share with you would require more skill, energy, and time than I alone could devote to it. So I’d like to get your feedback and measure the interest. Here it is. Since bitcoins can be paid in fractions (e.g., .0001 BTC) and since payment transactions carry little or no transaction fee, it is feasible to create a micropayment website for digital. As you also know, for most of history, artists were supported by patrons, not by property rights in copies of their works. Well, with bitcoin micropayments, nearly everyone can afford to be a patron of the arts, and they can reward the artist according to the value they perceive they got from the work (there are some songs I just cannot do without), and according to their own financial ability.I am convinced that if copyright was less restrictive, artists would benefit in ways that perhaps they cannot now envision. The idea is simple. Creators upload digital content to the site. They assign certain hashtags to it and post in one of several categories. Videos, music, photos, datasets for 3d printing, writing, art, advocacy and causes. Any content posted to the site is downloadable if a bitcoin tip of any amount is paid for it. The content can be played/viewed on site for free, but to download and copy, you need to tip the creator at least, say, .00001 BTC. Imagine a musician who posts a song in either audio or video or both. The more tips she earns, the higher she gets ranked. The higher he gets ranked, the more tips she receives. It’s a relatively frictionless way for a creator to get content to the end user and get paid for it in a way that could work in a filesharing world. So the concept is similar to twitter, instagram, tumblr, with hashtags that enable searching, but it also employs other performance ranking methods like the bitcoin tip data. Content creators are paid through a voluntary payment system. It’s sort of like crowdfunding in that regard. All content uploaded is royalty free and can be used for any purpose by anyone who gives a tip of any amount and downloads the content. Maybe you use a creative commons license to make sure nobody else claims it as their intellectual property. I really don’t think artists need the governments’ guns pointing at folks who copy their works. I think people would reward them anyway. Say someone uploads a dataset for a 3d printer to the site. Folks can tip him/her in increments that would be too small to pay via paypal, credit cards, etc. The transaction fees are too high. You could tip .0001BTC for a download and pay no transaction fee. Revenue for the site would come from advertising and/or by charging artists a small commission on their monthly or annual gross bitcoin tips. Creators could even assign a portion of their gross bitcoin receipts to be used in advertising on site to get featured ranking, ala Google or Facebook. Say you’re in Copenhagen, across the street from a building you’re curious about. Your phone alerts you that the 3d dataset for the building is available on gratuity2. You’re feeling generous so you tip .001BTC for the dataset. Back home, a 3d printer spits out a scaled down copy for your desk. Imagine that a kid in Latin America puts together a little music video with his phone. He uploads it to and it goes viral. A million kids throughout the world tip him .00001 BTC. A small thumb drive he bought at the local market holds a free bitcoin wallet in it. The next time he plugs it into any internet device, bang, he has 1000 BTC in his wallet. Say an artist posts an original song and it goes viral. Fans around the world tip her because they love the song. The higher her ranking, the more BTC tips she receives. Now say some advertiser grabs the song and uses it in their commercial for something (let’s say shoes). The terms of the license require only that the creator get credit (Maybe her QR code for her bitcoin wallet is on screen in the corner for a few seconds). More people hear the song in the ads and decide to download it and tip her (confession – I bought a Lady Gaga song because I heard it in a car commercial and liked it). There is the potential for a frictionless, direct relationship between artist and fans. And no strong arm copyright police. No centralized power in the hands of a few media companies. Maybe it turns out that copyright law is not needed because it is clear that this system both rewards creators and is an incentive to innovate. I.P. need not be a political issue. If a system like this took off, copyright law could become irrelevant. It’s a pro voluntary payment system. That’s the idea in a nutshell. Maybe it would fit somehow within It’s actually pretty close to what is already doing. I invite your feedback and any interest in collaborating to make something like this a reality.

    Jump to Discussion Post 3 replies
  • Pat Petrini

    Earn an income promoting liberty

    Hi All, If you haven’t yet heard of the Life Liberty Advocate program, you might like to check this out: They have a program where you can earn part-time and full-time income promoting the principles of liberty. I’ve listened to many of their materials and it is some of the best liberty education materials I’ve heard. Anyway, if you are looking for a way to be able to afford to devote more of your time to the cause of liberty, this may be a great opportunity for you. Cheers! Pat

    Jump to Discussion Post 25 replies
  • The Wry Guys

    Know a good Online Marketer?

    Hi everyone, My partners and I recently opened an online store with liberty-oriented Tees and stickers — — and we’re now exploring our options for marketing and promotion. To date, we’ve started Facebook, Instagram, and Twitter accounts, we’ve done some SEO work, and we’ve also run a handful of banner ads on and the Libertarian Reddit. (We’re donating a portion of the profits to and the Future of Freedom Foundation.) My partners and I are exceedingly busy with other responsibilities — i.e., full-time jobs, grad school, families, etc. — so this venture is simply a fun side business for which we have limited time. However, we’re intent on success, and we hope to build a venture that 1) consistently covers its monthly expenses, and 2) provides a source of reliable funding for and the FFF. The Internet’s awash in opinions about marketing methods and techniques, and we’re newcomers in a notoriously competitive market segment (i.e., Tees and stickers). We want to ensure we’re making wise use of our limited time, so we’re looking for a knowledgeable, liberty-minded marketer with experience appealing to libertarians, AnCaps, Constitutionalists, and Voluntaryists. For now, we’re simply looking for an initial, strategic consultation, but if we find the right person, it could certainly develop into something more. QUESTION: Do you know of someone who fits the bill? If so, please post below, or drop me a line at info AT Thanks, Scott …

    Jump to Discussion Post 1 reply
  • Evaldas Miliauskas

    Idea Lab

    Idea Lab is a place to share and develop your entrepreneurial ideas.

    Jump to Discussion Post 24 replies
  • Gregory V. Diehl

    Business Ethics – The Importance of Naming & Shaming or Praising & Raising

    I’ve recently embarked upon a new type of social experiment around social reputation in business. After I was scammed by a provider I had many mutual connections with to the tune of $5,000, I was shocked that she was so willing to risk her reputation just to take my money this one time instead of giving me a refund so we could walk away peacefully. And then I realized the reason she thought it was okay to do this was because she didn’t think I had enough of a voice to make a difference to her reputation. So I made a decision in that moment that I would do everything reasonable in my power to warn others that she was not to be trusted as an ethical professional. Since then, James Guzman and the Borderless team have been kind enough offer me their platform to get the message across (, and perhaps even more interesting has been the public response I’ve received since attaching my own name to this controversial story. I’ve basically received two diametrically opposite responses. I would say most people who I have contacted or who contacted me directly have been supportive and thanked me for sharing the story about Shola Abidoye and her company Converport so they would know not to do business with her. Even people who did not know her previously were glad that I was bringing her crimes to light on principle alone. Some others, maybe 10% to 20% were astonished or angry that I would dare name her publicly for what they considered to be a private dispute. Many of these were people who had promoted her previously, so their own reputation could be harmed if she was outed as a criminal. Others were just offended at the concept, and thought anything negative like this should be kept between the disputing parties. As an entrepreneur and someone who works to help others establish their brand message, I think reputation and identity are everything in business. Furthermore, if we are ever to have a society which does not rely on state intervention to right the wrongs of others, reputation becomes vital for how we choose to interact with each other. Besides sharing my story in the case study above, I have been posting on sites like Ripoff Report and anywhere else someone might look before doing business with her so they can be warned – and she will possibly be incentivized to make restitution for stealing from me.  I wanted to hear other opinions about the best way to handle situations like this where professional reputation is the only tool we have against fraudsters. What other steps should people who have been wronged take to reduce these cases and possibly solve their problems? Gregory

    Jump to Discussion Post 0 replies

Description is proud and excited to present the International Conference of Prices and Markets, livestreaming only on LIVE! The International Conference of Prices & Markets  is designed to combine the opportunities of a professional meeting, with the added attraction of hearing and presenting new and innovative research, engaging in vigorous debate, and interacting with like-minded scholars who share research interests.


Glenn Fox, University of Guelph, “Elements of the Entrepreneurial Theory of the Firm”

George Bragues, University of Guelph, Humber, “Towards an Austrian Theory of Finance”

William J. Corcoran, University of Nebraska, Omaha, “You Didn’t Build That: A Misesian Critique”

For more on entrepreneurship, check out Cameron Belt’s Guide about building a business amidst overregulation!

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