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The Economic Gains Of Risk-Taking


Published: May 26, 2020

The economic system that has advanced society most in the past century is one that enables individuals to make decisions and also to bear the consequences of those decisions. Innovation that benefits us all results from the incentives of being accountable for one’s choices. No matter if any individual choice ends in failure or success, society benefits from our openness to taking chances.

Discussion Questions

  1. How can protecting individual rights encourage citizens to take risks?
  2. Have government programs protected individuals from the consequences of their decisions?

Additional Resources

  • Watch “Created Equal” on Free to Choose with Milton Friedman. Available here.
  • Read “Rugged Individualism” by David Davenport. Available here.
  • Read “The Future of American Individualism” by Herbert Hoover. Available here.