Dr. Gregory Price pays visit to UNO


Dr. Gregory Price visited UNO on Thursday, Jan. 24 to lecture on the importance of entrepreneurs as protectors of a constitutional democracy. Photo from gspclaw.com.

Demi Guillory, Reporter

Nearly 30 aspiring economists, inquisitive students and faculty members were treated to an interactive lecture by Dr. Gregory N. Price on Thursday at the Earl K. Long Library. Though geared toward economics majors, or at least those with some background knowledge and experience in the field, the hour-long lecture was open to anyone interested and available to attend. It was the first of the Honors Program lecture series for the spring 2019 semester.

Price is a professor of economics at Morehouse College in Atlanta, Georgia. Once a student there, Price earned a bachelor’s in economics. Both his Ph.D and Master’s degrees were earned at the University of Wisconsin in Milwaukee.

The lecture was titled “Entrepreneurs: Guarantors of a Constitutional Democracy Based on an Ethic of Individual Property Rights” and begged the question, as Price put it, “what constitutes a great society?” His presentation answered this very question and dispelled the common misconception that entrepreneurs are “greedy, manipulative” people who are only out to do what is good for themselves. Price spent the hour passionately explaining that the bulk of his paper and thereby the lecture, which was embedded in economics equations and statistics, proved that prosperity is encouraged by entrepreneurs because they “are more likely to enforce the property rights and features of a constitution because they’re versed in having the politician surplus increasing.”

According to Price, virtue and entrepreneurship simultaneously work together to create a more polite, kind society. Price credited evidence, which he includes in his paper, that proves “the right to ownership makes a man more virtuous, more sympathetic, more honest” or, more simply, an overall better person. Furthermore, he argued that the growth of firms and self-employed entrepreneurs has led to prosperity that has benefitted every one of us.

His presentation concluded with a question-and-answer session where one curious audience member asked if the increase in virtue which entrepreneurs are attributed to having could also be a result of self interest. Price acknowledged that it certainly is possible. He also counteracted his response by asking whether self interest should be interpreted as a negative, because self interest and vice have been proven to be “positively correlated.”

Readers who would like a copy of Price’s paper may email him at [email protected]