These Elections Will Either Advance a Dangerous Sense of Entitlement or Sound Economic Fundamentals

Businesses properly exist to meet the needs, wants and expectations of customers, clients, and patients at a profit or surplus sufficient to support the ongoing requirements of a nation’s enterprises. Employment (jobs) is the result –- not the appropriate objective –- of an enterprise’s existence. Unfortunately, too many government officials, politicians, reporters, commentators, etc. do not understand or support this legitimate and important distinction.

Furthermore, profit on sales and services — and return on employed capital -– provide the signals that communicate whether or not an enterprise is succeeding. Enterprises must compete for the capital available to support their ongoing operations and their growth and developments.

Popular (uninformed) support of so-called nonprofit businesses is based on myth. Nonprofit businesses must make a surplus (a nontaxable profit) to survive. This surplus should result from the products and/or services rendered – or from government and/or charitable contributions – which ultimately come from taxed, profitable enterprises or government borrowing. Again, surpluses are nothing more than nontaxable profits. If supported by government contributions, these funds come from taxed, profitable enterprises.

As liberal leftist de facto Marxist/Fabian-Socialist ideologues criticize profit-making -– they are in fact condemning the very heart and soul of the competitive, free-market, free-enterprise system that has created America’s Prosperity Machine. For 240 years it has provided the highest standard of living for the greatest number in the history of the world. Unfortunately, too many Americans fail to understand the superiority of the American-Way. And our schools and the constitutionally protected media are failing to teach these important principles.

Instead, the Democrats and especially the Progressive Liberal Leftists clearly have fostered a sense of entitlement in the minds of our high school and college students.

The old sense of personal responsibility – goals – objectives -– work ethic -– commitment -– seem to have significantly diminished.

Our politicians, always in search of votes, and their supporters in the leftist media -– have also contributed to this sense of entitlement by promising more and more from government.

The danger is that this sense of entitlement is harming our nation and the historically exceptional system which has produced it.

Parents should stop giving so much, and instead require their offspring to work for what they want. Our schools should teach the old maxim:  Persistence and Determination Alone Are Omnipotent. Also, the media should publish more inspiring stories about people who started out with little and achieved much via focus, commitment and hard work.

To make matters worse, Democrat candidates like Hillary Clinton and Bernie Sanders are brutal in their criticism of Wall Street, bankers, investors, the rich, the productive, the innovative, etc. They are playing on the ignorance of voters who do not understand the importance and viability of America’s competitive, free-market, free enterprise, constitutional system. They think a liberal-progressive (de facto Marxist/Fabian-Socialistic) system – with big government bureaucrats and politicians controlling the economy and providing for the people’s needs, wants and expectations — i.e., “entitlements”! -– is a more attractive economic system. Clearly, history throughout the ages indicates that is not the case!

In summary, the prosperity of any nation and its people is the result of its collective productivity, ingenuity, private economic investment, and the growth of its GDP -– less the cost of government and non-productive entitlements -– as measured in non-inflated (constant) dollars. History has clearly demonstrated that a competitive, free-enterprise, free-market, work-ethic, entrepreneurial, profit/surplus-motivated, constitutional, sky’s-the-limit economy – is the best way of producing prosperity and jobs for the greatest number. Everything is better today as a result of the USA’s competitive, financially-driven, free-market economy -– as businesses, not government, strive to meet the needs, wants and expectations of the people.

In God we must trust . . . but we must always do our part – to secure and promote the truth and a better way – to protect our freedom and interests – and to defend our competitive, free-market system and the Judeo-Christian American-Way.

Image: https://www.flickr.com/photos/labor2008/3562633193/

Share if you think voters need a refresher course in basic, American economics.

About the author: William Pauwels

William A. Pauwels, Sr. was born in Jackson Michigan to a Belgian, immigrant, entrepreneurial family. Bill is a graduate of the University of Notre Dame and served in executive and/or leadership positions at Thomson Industries, Inc., Dow Corning, Loctite and Sherwin-Williams. He is currently CIO of Pauwels Private Investment Practice. He's been commenting on matters political/economic/philosophical since 1980.

View all articles by William Pauwels

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