One of the greatest inventions of all time was the invention of constitutional, limited-regulation, Capitalism. Combined with entrepreneurialism, this discovery created the most prosperous economies in the world – and especially in the United States.
Another great discovery was modern marketing. The late and great Red Motley recognized this and became famous for saying:
Nothing happens until somebody sells something. . . . Satisfying needs are never enough, creating wants is the only thing that matters. . . . America has discovered how to make people want things they don’t (know they) need. . . . This want creating process has made the United States the economic envy of the world.
Another great development was the modern securities exchange market, where stocks and bonds are bought and sold. It enabled individuals to invest their excess income in enterprises that serve the needs, wants and expectations of customers, employees, suppliers, communities, and the disadvantaged. Most importantly, it enabled these investments to be made at minimal risk. In fact, in most cases, one can buy stocks and bonds and sell them anytime they feel they are at risk, or anytime they have a better opportunity, or whenever they have a greater need. In fact in most cases, one can even buy and sell on the same day – although this is not the norm, except for professional day-traders.
Unfortunately, de facto Marxist/Socialist/Liberal-Leftist Democrats and Progressives – and their advocates in the media and labor unions – tend to criticize investors as rich, as greedy, as self-serving, etc. They create the illusion that wealthy people have money stuffed under their mattress and in their pockets. Of course, that is not the case. In fact, the wealthy normally have their money invested in the economy, in enterprises that serve the needs and wants of the public at large.
Of course, successful business owners and investors often enjoy superior personal income in exchange for the risks involved in investing their capital. Even here they benefit the economy and their communities. They buy the latest, and usually most expensive, goods and services. This rich-man’s demand enables new and better products and markets and industries to come into the free market – which in turn lowers the price of these new and improved goods and services for all to enjoy.
Unquestionably, there are apparent abuses in every system, enterprise and endeavor. Some corporations pay their senior executives seemingly exorbitant compensation in an effort to achieve superior performance by retaining the services of proven leaders and performers. They operate much like the professional basketball team (also a corporation) that pays exorbitant compensation to superstars who attract paying fans.
In ages past, the wealth of a nation was enhanced by conquering other nations and pilfering their wealth and enslaving their people. The invention of free-market, competitive, limited-regulation, Capitalism changed all of that and gave mankind a new, better, more productive method of creating value and prosperity for the greatest number. It’s time that more Americans recognize this reality – that our schools teach this reality – that our media promulgate this reality.
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 the Judeo-Christian American-Way.