In honor of July 4th, Hanky Panky celebrated American entrepreneurship by doing a little write-up of 50 State of Style and discussing the piece I recently wrote about their inspiring co-founders Gale Epstein and Lida Orzeck, who have been manufacturing in New York since 1977. Below is an excerpt from Tuesday's post on their Life Love Lace blog, and you can read the whole thing here if you're interested. Stay tuned for a Q&A on the benefits and challenges of American manufacturing with yours truly at the end of summer.
"We like to say that entrepreneurship is as American as apple pie, but it was Austro-Hungarian-born economist Joseph Schumpeter who hit the nail on the head in 1934 when he identified entrepreneurs as one of the fundamental drivers of national economic growth. Schumpeter’s entrepreneurs are those who have the magic mix of skill, temperament and character to put a new idea into practice, be it 'a new product, production process, supply source, market or type of organization.' Under the right conditions...entrepreneurs can catapult economies through innovation."