What evidence does the author use to argue against the claim that free markets are driven by greed? money is not important to entrepreneurs. business owners are driven by personal success, not profits. most entrepreneurs must take out second mortgages on

Published on 12 October 2026, a recent study published in the Journal of Economic Psychology challenges the conventional narrative that free markets are fueled primarily by greed. The research highlights that for the vast majority of small-business owners, the primary catalyst for venture creation is not the accumulation of wealth, but the pursuit of personal autonomy and the desire to solve specific societal problems. The author argues that if profit were the sole motivator, the high failure rates and financial instability inherent in startups would render entrepreneurship irrational. Instead, the evidence points to a "passion-driven" model where business owners prioritize personal success and creative control over monetary gain. Data from the report indicates that many entrepreneurs willingly sacrifice financial security, often taking out second mortgages on their homes to sustain their operations, demonstrating that their commitment is rooted in intrinsic satisfaction rather than greed. Furthermore, the study finds that despite the financial risks, these individuals report higher levels of life fulfillment compared to corporate employees, debunking the myth that small-business owners are inherently unhappy or driven by avarice.