Liberty Discussion is a program designed to engage and inform the core members on the ideas of market economy and classical liberal ideas. Discussions are made on contemporary issues (local or national) through open market perspective. The article is selected and shared within the members to prepare oneself for the program.
Bikalpa, an Alternative, organized a Liberty Discussion session on 26th October 2024. The discussion for the topic was titled “Why should you care about Entrepreneurship”. Around 22 participants attended the program. The program was organized in association with Institute of Economic Affairs (IEA) at the Bikalpa office.
During the session, participants emphasized the essential role that entrepreneurship plays in the development of markets and the creation of economic opportunities. Each participant brought unique perspectives that enriched the discussion, especially around the idea that entrepreneurship is more significant to us than we often realize. Entrepreneurship, they argued, is the driving force that transforms resources—land, labor, and capital—into productive means for society. Without the direction and focus of an entrepreneurial mind, these resources would remain inactive, producing nothing of value.
The discussion also covered how markets balance supply and demand, while entrepreneurs identify gaps, bring innovative solutions, and connect resources to these unmet needs. Through this lens, participants agreed that entrepreneurship is not merely an economic activity but a social function that uplifts communities, creates jobs, and fuels innovation. The drive to fill market needs with new ideas is essential for addressing modern challenges, fostering competition, and bringing improvements that benefit all.
Participants stressed the significance of a supportive political and economic environment for entrepreneurship to thrive. Participants emphasized that entrepreneurship and a robust market mechanism are vital for any country’s development. Drawing on examples of prosperous developing nations, participants argued that freely functioning markets create opportunities for entrepreneurs and lead to economic growth.
The topic of government subsidies also emerged as an important factor. Participants debated whether government interventions could help support entrepreneurs, especially in areas where markets fail or capital is scarce. The consensus was that, while subsidies can provide crucial support, they should be thoughtfully designed to encourage long-term self-sufficiency rather than dependence. Entrepreneurship flourishes best when given the right environment to grow organically, supported by policies that nurture risk-taking, innovation, and resilience.
This debate led to the topic of the government’s role in regulating markets. Some participants argued that government interference, especially when excessive or politically motivated, distorts market mechanisms and hampers economic growth.
In conclusion, the session highlighted that entrepreneurship is the backbone of economic growth and a crucial driver of innovation. Participants stressed that a vibrant entrepreneurial ecosystem requires both the freedom to operate in open markets and balanced regulation to prevent exploitation. Developing nations must cultivate policies that foster economic freedom, consistent regulations, and support for entrepreneurial ventures. Entrepreneurship is indeed more significant to society than commonly recognized, as it not only drives economic activity but also creates opportunities, encourages innovation, and contributes to societal well-being.
