timothy john walshaw

The source of all wealth is enterprise. Enterprise is the action of the Entrepreneur to start a firm to produce and sell goods and services, and it is intended that the firm would operate under increasing returns to scale. The book is based on the concept of increasing returns to scale. Increasing returns to scale is the source of profit. The economic theory of increasing returns to scale is discussed in detail, and this concept explains why enterprise and entrepreneurs operate through increasing returns to scale to create wealth. Aside from the theory, Part II explains how you can get rich from nothing, using enterprise alone. Just what is in your head, and a bit of initial hard work. No capital is needed, and no, it is not risky. As a famous venture capitalist said, if the business fails, you are the last to be fired. All you need is a profitable idea. An original one is best. Otherwise you can copy somebody else’s successful idea. Many do. But the firm has to operate under increasing returns to scale. Otherwise you are just buying yourself a job. So be enterprising. Start a firm to produce and sell something!