Transcript of "The American Dream & Renewing Wealth Creation"
The process of making money is the best education for
making more money, our society’s wealth can grow only if
the people who create it control it.
Divorce the financial profits from the learning process and
the economy stagnates.
Although many of today’s entrepreneurs are too busy to
notice, they are indeed performing a near miracle of
personal wealth creation.
Most started their companies only a few years ago on
relatively meager capital.
Now, zapping their companies with police radar as they zoom
by at a growth rate of some 50% per year, we can guess that
dozens of those entrepreneurs command a net worth of
Soon they will be knocking on the doors of truly supreme
wealth… like their predecessors Bill Gates of Microsoft, Larry
Ellison of Oracle, Steve Jobs of Apple and Mark Zuckerberg of
Facebook among others.
In sharp contrast, many American intellectuals today think
there ought to be a law against such a reckless rags to riches.
Tax it away, they say, and give it to people who need it more.
Capitalism, it is widely believed, would work better without
all these superrich capitalists.
America’s entrepreneurs, after all, live in a world with 7
billion relatively poor people. Vulnerable men and women,
these business leaders command little political power or
means of defense.
Democratic masses or military juntas could take their wealth
at will. Why on a planet raven with famine, poverty, and
disease should this tiny minority be allowed to control riches
thousandsof times greater than their needs for subsistence
Why should a few thousand families command wealth far
exceeding the endowments of most nations?
Does any of this make sense?
I personally believe business is the greatest creator of value
in the world. It is fundamentally ethical, noble and elevates
Capitalism won the battle of the 20th Century but
unfortunatelyfailed to capture the minds of the intellectuals
or the hearts of the people.
All this negative sentiment around “corporations being evil”
After all, capitalism has largely ended world poverty, boosted
literacy rates around the world, increased life spans, and
created an era of prosperity unprecedented throughout
What appalls me most today though is how few capitalists
write about capitalism and wealth creation explaining to
people what it is all about and the benefits associated with it
at least if not to inspire the next generation of leaders.
A generation I believe whose first duty must be to reverse
the public perception of business to take this great country of
ours to the next level of greatness n the world.
I think it is high time for the liberal haters of capitalism out
there to understand that:
1. All businesses need a higher purpose. Money is not what
drives most entrepreneurs. What drives most
entrepreneursis some kind of dream. Business will never
be trusted if all it talks about is maximizing profit.
2. Business must create value for everyone that trades with
it. We’re so hooked up today to the win-lose dynamic.
The most amazing thing about capitalism is that it’s not a
zero-sum game. It’s a win-win game.
3. To win the hearts and minds of the less fortunate people
the world over, I believe we need a new type of leadership
today; the servant leaders type who are dedicated to serving
4. Most importantly, we need to create company cultures
that are humanistic and empowering. Conscious businesses
have indeed trusting cultures. They tend to be more
authentic and caring.
I wrote my book EconomicWarfare: Secrets of Wealth Creation
in the Age of Welfare Politics
for the millennial generation as I am a boomer and have
unfortunatelylargely given up on my own generation;
ideologically locked in the cold war way of thinking.
I sincerely hope this new generation will take a close look at it
as their consciousnessis much higher.
The transformation the world needs comes from business–from
entrepreneursand from fresh minds willing to take risks.
Renew wealth creation and renew the American Dream and it
will change your life.
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