Undercover Economist: Hard cash underpins the spirit of independence

Energy. Ambition. Confidence. Patience. Fearlessness. All these traits are associated with that mysterious quality of “entrepreneurialism”. Self-made men, such as Richard Branson and Alan Sugar, seem to exude different qualities from ordinary wage slaves.

But that is not the way things look to economists. It’s not that we are blind to the very idea that personality matters; it’s just that the evidence suggests a different story.

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Publishing schedule: Excerpts from "The Undercover Economist" and "Dear Economist", Tim's weekly columns for the FT Magazine, are published on this blog on Saturday mornings.
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