Archive for the ‘entrepreneurship’ Category

Protectionism bought and paid for by the Minnesota Funeral Directors Association, I betcha.

Verlin Stoll is a 27-year-old entrepreneurial dynamo who owns Crescent Tide funeral home in Saint Paul, Minn. Verlin has built a successful business because he offers low-cost funerals while providing high-quality service. His business is also one of the only funeral homes that benefits low-income families who cannot afford the high prices of the big funeral-home companies.

Verlin wants to expand his business, hire new employees and continue to offer the lowest prices in the Twin Cities, but Minnesota refuses to let Verlin build a second funeral home unless he builds a $30,000 embalming room that he will never use.

Minnesota’s law is irrational. Embalming is never required just because someone passes away and the state does not even require funeral homes to do their own embalming. In fact, it is perfectly legal to outsource embalming to a third-party embalmer. Minnesota’s largest funeral chain has 17 locations with 17 embalming rooms, but actually uses only one of those rooms.

Why is Minnesota forcing Verlin to waste $30,000 on a useless embalming room as a condition of expanding his thriving business?

So that the big, full-amenity funeral-home businesses can benefit from a law that drives up prices for consumers and operating expenses for competitors such as Verlin. Verlin’s basic services fee is only $250, which is about 90 percent lower than the $2,500 that the average Twin Cities’ funeral home charges. Verlin’s business model is built on minimizing fixed costs, which is why he does not have a hearse or chapel, and this law—to the advantage of his competitors—stands in the way of him expanding his low-cost, high-quality approach.

The government should not force Minnesotans to do useless things. That is why on January 19, 2012, Verlin and the Institute for Justice challenged the law in state court.

The Minnesota Constitution protects every Minnesotan’s economic liberty, which means that it protects entrepreneurs from being burdened by legal requirements that are either useless or designed to suppress honest competition.

A victory here will not only free Verlin from an unconstitutional restraint on his economic liberty, but protect entrepreneurs across the state from pointless laws and bureaucracy.

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Second edition (v 2.0) of an ongoing project to visualize Galt’s Speech from Atlas Shrugged by Ayn Rand using images and video from current events. NOTE: These videos do not purport to be definitive or authoritative. If these videos interest you, please visit the Ayn Rand Institute (www.AynRand.com)for more.

Text by Ayn Rand
Read by Christopher Hurt
Edited for YouTube by XCowboy2
Music by John Williams

For the full novel read unabridged, visit BlackstoneAudio.com

How can Americans create private sector jobs?The solution to America’s jobs problem lies not with budget-busting federally mandated “stimulus” programs.Instead, what is needed are specific reforms that wouldn’t cost taxpayers, would create a broader tax base for cash-strapped cities and states, and would provide opportunity for millions of Americans who worry where their next paycheck is coming from.As demonstrated by a series of eight new reports issued in October 2010 by the Virginia-based Institute for Justice, one of the principal obstacles to creating new jobs and entrepreneurial activity in cities across the country is the complex maze of regulations cities and states impose on small businesses. IJ’s “city study” reports are filled with real-world examples of specific restrictions that often make it impossible for entrepreneurs to create jobs for themselves, let alone for others.Chip Mellor, the president and general counsel of the Institute for Justice, said, “If the nation is looking to the federal government to create jobs in America, it is looking in the wrong place. If we want to grow our economy, we must remove government-imposed barriers to honest enterprise at the city and state levels. Remove those barriers, and you will see a return to the optimism and opportunity that are hallmarks of the American Dream.”IJ’s eight reports document how irrational and anti-competitive regulations block entrepreneurship. More often than not, these government-imposed restrictions on economic liberty are put in place at the behest of existing businesses that are not shy about using government force to keep out competition. The Institute for Justice’s city studies examine regulations imposed on a wide range of occupations in Chicago, Houston, Los Angeles, Miami, Milwaukee, Newark, Philadelphia and Washington, D.C.

Vodpod videos no longer available.

On October 25th, an audience of financial managers and CEOs, politicians, central bankers and Nobel Prize-winning economists at The Economist’s Buttonwood Gathering were treated to an unusual experience: a live rap battle between John Maynard Keynes and F. A. Hayek.

Vodpod videos no longer available.

How can Americans create private sector jobs?The solution to America’s jobs problem lies not with budget-busting federally mandated “stimulus” programs.

Instead, what is needed are specific reforms that wouldn’t cost taxpayers, would create a broader tax base for cash-strapped cities and states, and would provide opportunity for millions of Americans who worry where their next paycheck is coming from.

As demonstrated by a series of eight new reports issued in October 2010 by the Virginia-based Institute for Justice, one of the principal obstacles to creating new jobs and entrepreneurial activity in cities across the country is the complex maze of regulations cities and states impose on small businesses. IJ’s “city study” reports are filled with real-world examples of specific restrictions that often make it impossible for entrepreneurs to create jobs for themselves, let alone for others.Chip Mellor, the president and general counsel of the Institute for Justice, said, “If the nation is looking to the federal government to create jobs in America, it is looking in the wrong place. If we want to grow our economy, we must remove government-imposed barriers to honest enterprise at the city and state levels. Remove those barriers, and you will see a return to the optimism and opportunity that are hallmarks of the American Dream.”

Vodpod videos no longer available.