Quantum thinking and Austrian Economics

by | Jan 30, 2024 | Core, Impact Business, Impact Connecter, Impact Entrepreneur, Impact Investor, QP Blog, QP Column

QUANTUM THINKING AND AUSTRIAN ECONOMICS

 

Last weekend I was at the book presentation of ‘The Austrian School’ by Jesús Huerta De Soto. I was triggered by the phrase ‘Why entrepreneurial activities automatically make a more just society’.

 

I absolutely believe that entrepreneurs can co-create a just and prosperous society if they connect and put the greater good first. In fact, that is exactly what QuantumPreneur is all about, connecting Impact Entrepreneurs with each other and with Impact Investors to create projects that have a lasting positive impact.

But do entrepreneurial activities automatically make a more just society? Being an economist myself, I must confess I have some reservations about this. Does this apply to every entrepreneurial activity? Does this really happen automatically? In a world of conscious entrepreneurs or Impact Entrepreneurs as I like to call them, I believe it can indeed be so. Impact Entrepreneurs per definition create a win-win-win and bring value to the market. Today, unfortunately, not every entrepreneur creates a sustainable positive value. Many still think win-lose instead of win-win and do not have the common good in mind. Even for Impact entrepreneurs, it requires an ongoing state of being aware, staying aware and choosing with awareness. In my opinion, what is consciously decided is consciously created and therefore does not happen automatically.

Moreover, I wonder what comes first. Are there conscious entrepreneurs first who then build that just and prosperous society? Or is there a just society first so that entrepreneurs have the opportunities and freedom to create. As a Quantum Thinker, I would say both are there and both are needed. The growth of the conscious entrepreneur will enhance the growth of the just society. Conversely, the growth of a just society will also have a positive impact on the growth of conscious Impact Entrepreneurs. Education is an important driver in this. This is why I think it is so important that we start our private high school next September. Educating and empowering young people helps them become the entrepreneurs and leaders that the new society needs today.

 

Entrepreneurs in Austrian Economics

Economics is a complex and holistic science. Human action and the creativity of the entrepreneur are key. Knowledge and information are subjective and constantly changing. In all of this, I absolutely agree with the Austrian school.
As Ferre Clabau nicely summarized it:
People have desires and needs.
From there, people connect with each other and start acting.
People learn from each other, develop, and create new knowledge.
This influences desires and drives.
People reconnect and so on.
This is a complex system of entrepreneurs interacting and growing on an ongoing basis. This cannot be captured in a statistic.
Values and beliefs play a major role in this process.

 

Quantum thinking for entrepreneurs

Indeed. Your thinking, your values and how they develop over time determine how you act as an entrepreneur. However, how people think is influenced in part by the spirit of the times. For decades, Newtonian thinking was mainstream. Today, change, technology and globalization require a new way of thinking. This is a paradigm shift in which I also recognize certain elements of the Austrian school.

Newtonian thinking says that the universe is one big machine. Everything can be calculated and predicted. Everything is matter and you need force to get an object moving. This is the law of cause and effect. Quantum thinking however says the universe is one big mind. Everything is energy, mind influences matter and our thinking has direct impact on what will happen. So the entrepreneur is the creator. This idea is key in Austrian economics.

Looking at business, the Newtonian way of thinking fits the period of industrialization with machines, force and hard labor. People are just a small part in a mechanical system. People only do what they have to do and they have no insight at all in the big picture. People are isolated in teams and departments and feel no connection with other parts of the organization. This is what we still see in big hierarchical organizations today. As a result people feel disconnected, unfulfilled and not satisfied with what they are doing day in day out. Burn-out, depression, chronic diseases but also bullying at work are obvious signs of this way of thinking.

New generations want their work to be meaningful. They want to be involved. They demand a flat organizational structure and a flexible work-life balance. For example, I always work with small self-steering teams. Per project, a project group is set up with clear objectives and timelines. Work should be organized in a flexible way so it can fit people’s lifestyles. If you want to travel the world and work remotely, that must be possible. If you want to take a break and spend more time with friends or family, you should be able to do so. Yet it takes a certain maturity and mindset, as well as shared purposes and values, to manage your work when you are given so much freedom. For instance, I expect each partner and employee to be intrinsically motivated, show initiative and take ownership. Authenticity, respect, teamwork, and honest communication is a must. For many people, it requires a change in mindset and attitude, to function in this kind of new organizational structure.

Quantum Thinking, as well as Austrian Economics, can be an approachable first step to a new way of thinking for many people. For the creative and conscious entrepreneurs among us, we are living in unique and special times with lots of possibilities and opportunities.

Let’s explore and implement Quantum Thinking

If you want to apply Quantum thinking in a tangible way in your work and life, you are most welcome to join us on the QP Quest.
Check out the free training videos to get started.

Author

Sandra De Milliano
Impact Business Co-Creation Circle
Creating hands-on solutions for today’s challenges in the field of entrepreneurship.

 

Thank you for sharing this post with anyone who could benefit from it.
Let’s make an unstoppable positive impact on society.
Let’s create, connect and care.

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