HAPPY BIRTHDAY AMERICA
As our country prepares to celebrate yet another birthday, it occurs to me that America has an economic history at least as fascinating as its political history. It is an almost unbelievable story, one that traces our fantastic growth from colonies to computers.
As we move to birthday number 224, we are the wonder of the entire world. Our low inflation, low interest rates, low unemployment and high productivity has made us the envy of the globe. We are the leader in technology throughout the world, and among other things, that technology is helping us increase the gap between ourselves and the rest of the world. That having been said, we must never lose sight of the fact that it is our basic freedoms and democratic rights that make it all go. The minute we take it for granted, the minute we ignore it, the minute we think it is an automatic and guaranteed-forever event, that is when we become vulnerable. As always, a vigilant citizenry, just a little suspicious of its central government, is exactly what our forefathers wanted and felt was the best relationship between themselves and their government.
So how have we come all this way, from nothing to "the leader of the band?" The reasons for the great American success story are varied and many. To some extent it was land, that vast stretch of fertile real estate, that made us prosper. In fact, it goaded us into prosperity even when we didn't deserve all of it. And almost certainly it was the people. The individuals behind the system. The risk-takers who wouldn't take "no" for an answer. The innovators who dreamed up crazy inventions that everybody laughed at, and then bought. The ideas that looked strange at first, but revolutionized the world.
Americans are known for many things, but one word seems to occur over and over when discussing the American people. That word is "enterprise." Perhaps it comes from a long line of immigrants willing to take big risks. Whatever the reason, Americans have gained a reputation for getting things done.
However, like the air, the American Free Enterprise System is too often taken for granted. People pay small attention to it until something goes wrong. The free enterprise idea is a living philosophy that has grown up in our democratic form of government. It has survived minor and world wars, panics and depressions. Democracy is the hope of a free world today, and democracy's greatest ally is the free enterprise system.
America has yet to reach its full growth. Nobody knows with certainty what the years ahead hold, but no one looking at the American scene with its increasing population, and its need for growth, can seriously doubt that opportunities for even greater economic expansion still abound. Yet, for all of the success of the free enterprise system, it is still misunderstood. Former Congress Secretary Luther Hodges once said, "If ignorance paid dividends, most Americans could make a fortune on what they don't know about economics." It is an amusing epigram, but it s not an amusing situation. The fact is, our economic system involves all of us. When we pull up to a gasoline station, turn on an electric light, or shop in a local supermarket, we automatically play a vital part in the workings of our free enterprise system.
The answer to who owns the American business system is the key to its success, for in one way or another, almost every American owns the American business system.
In 1776 the American Revolution was largely fought because the colonies were not getting a fair economic shake from England. Today, we stand as the richest people in the world, and the reason we are the richest is because we are the freest. Economically free people do not revolt because the system works so well there is no need for a revolution and the chaos that follows.
Is the free enterprise system perfect? Of course not, because it is made of people, and people, unfortunately, are not perfect. But it's the best damn thing going. Don't you forget it, America, don't you forget it!
(Tom Butenhoff is a First Vice President with J. E.
Liss & Company in Milwaukee. The views are his and not necessarily
those of Liss Financial Services or the Job Connection/Hiring
Network.)