On the rich vector, wherever you happen to be on it, your destiny depends not on the hands of a distant politician or the state of the economy, but only on the limits of your imagination and willingness to work for it. That’s not to say that these external factors do not influence – significantly in many cases – but which kind of attitude do you think is ultimately more helpful in overcoming them? The quality of an internal versus an external locus of control lies at the root of the Libertarian emphasis on the individual over the collective. Entrepreneurs tend to have an internal locus of control: which is to say that they have a high sense of self-responsibility both for the initiation of their goals and the outcome of their efforts. Those on the other hand with an external locus of control tend to look to others not only for validation, but as the source of their success and the fault of the lack thereof, as the case may be. It’s not hard to see which attitude is more helpful in the long term.
via lewrockwell.com
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