Honest- to- God Capitalism versus No- Risk Capitalism
Just think about this. Honest- to-God Capitalism is what America did so well in the late 1800′s through the 1970′s. It was all about producing great products and great industries. They controlled, in a good way, the means and methods of production while producing jobs, good quality products and continuous innovation. These products were admired and sold around the world as well as in the USA. The Decent Human Being leaders of these product-producing industries took all the risks with their own capital and their own energies. Napoleon Hill in his famous book, Think and Grow Rich, studied the most successful men of their time. They were all like this and they engaged their brain trusts in risking their capital on behalf of the enterprise. They did not go for OPM. (Other People’s Money).
The “No-Risk Capitalists” in modern times, especially in the past 30 to 40 years, have played with OPM, at no risk to themselves at all. Simply because they manipulate the money or capital, they call themselves capitalists. They aren’t capitalists. They are some kind of charlatans and power figures who have inherited or earned so much money that they think they own the world and its elected officials and have the right to bet against America while making billions with OPM. Look askance at all privatization for this reason. They will decimate the American people and whatever is left of our great industries. This must not be allowed.
Honest-to-God Capitalists are needed. This is a call for a return to the future of Honest-To-God Capitalism that innovates new and better products and services that are built-to-last. Only they can produce good, long lasting jobs and careers in the USA. And yes, sold here in this, the largest free market in the world.
Fortunately for me, my former father-in-law, Joseph Allina was an Honest-To-God-Capitalist. He was one great inspiration to me in 1957 when there was a GE price-fixing scandal. He was invited to be on President Eisenhower’s Council of Economic Advisors. He was also a corporate Senior V.P. of Thonet Industries, the builders of legendary Thonet bentwood rockers.
I was a 27-year-old Army soldier on leave. We were taking a walk. I asked him about GE. He was deeply saddened and shocked and genuinely so. A very strong man, he was in tears as we spoke. He felt betrayed. Not because he had money in GE stock, but because he identified so strongly with American Industry and the character of Honest-To-God Capitalism. “He said, we just don’t do things like this.” His impact on me was his Legacy of Character. It has always guided me in my career.
I hope this transfers over cyberspace to smart young people today to Reject No-Risk Capitalism and choose Honest-To-God Capitalism as their Legacy of Character.
True Honest-to-God Capitalists should, and some are starting to see, the opportunities in this high demand market called America. Signs include more in sourcing and the return of building products at a profit, here in the good old USA.
Make Your Days a Golden Age
Some people look back, for example to the Reagan era or the Clinton era. Some go back to the Revolutionary War period or to the end of the Second World War. Some also try to predict the future. They either believe that cycles or past wonders will be repeated if we would be patient enough. Forgedaboudit!
It seems to me that all that human beings have and all that we can use is the ability and capacity to do something worthwhile with our own lives. Clearly we can all argue as to what’s worthwhile. Those who want to do something about the lack of Character in our leaders and managers should look to building your own character. Make things go in the direction of good, right, helpful and better for people in your own potentially Golden Age. I am taken by a quote from the anthropologist, Claude Levi–Strauss. “We should try and reach for the Golden Age in the time that we live.”
Then build products, communities, families, and education and political institutions that will leave your progeny with your Legacy of Character. That’s a lot.
