Emily Chamlee-Wright: The Best Idea Every Entrepreneur Needs
Channel: Foundation for Economic Education
Date: 18/07/2019

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Emily Chamlee-Wright, president of the Institute for Humane Studies, explores the idea of spontaneous order, a concept that has its roots in the work of Adam Smith, plays a prominent role in F.A. Hayek's critique of central economic planning, and looms large in the work of many contemporary classical liberal scholars.  More than a single idea, the "spontaneous order" paradigm is a way of seeing the world that opens up a deeper understanding of both the coordinating and disrupting roles that entrepreneurs play in society.  Once we see the world through the "spontaneous order lens," we understand that the future is radically open to new possibilities--an openness that the social engineer has trouble imagining.  When we give up the social engineer's notion of top-down problem solving, and instead, embrace the discovery that unfolds in bottom-up processes, we come to understand and appreciate the role of three essential entrepreneurial values, namely: humility, creativity, and audacity.  In short, this way of seeing the world, and the values it inspires, are indispensable intellectual tools for entrepreneurs, no matter whether they are market entrepreneurs, academic entrepreneurs, or social change entrepreneurs.