Entrepreneurship is the willingness to take risks and develop, organize and manage a business venture in a competitive global marketplace that is constantly evolving. Entrepreneurs are pioneers, innovators, leaders and inventors.
The forgotten amendment is the tenth amendment which enumerates the rights of states and the people. The tenth amendment of the U.S. Constitution is quite simple. Simply stated, it says that the power granted to the federal government is limited and all other powers are bestowed to the states or the people. The powers granted to the federal government are listed in the first three articles of the Constitution.
Federalism has the virtue of retaining local pride, traditions and power, while allowing a central government that can handle common problems. The basic principle of American federalism is fixed in the Tenth Amendment (ratified in 1791) to the Constitution which states: âThe powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.â