I am a Capitalist , a business man and a former politician who is losing faith in our political will to enforce the hard reality of capitalism: failure is needed to maintain healthy economic growth and improvement in our quality of life and standard of living.
The great weakness of our political system is that it can be influenced by agents of big business and banks. When these consultants and lobbyists succeed they ensure the deck is stacked against small business. In fact big banks have never liked small business and now they are starting to dislike small Countries that can’t pay their bills. Perhaps it’s not planned but the side effect of focusing the bailouts on big companies and BANKS is that it ensures a gradual transfer of wealth from the middle class to the wealthiest 0.1% of our population. It is time to stop this madness before it destroys our freedoms and our dreams of a better tomorrow.
Let’s get back to real Capitalism that includes small businesses and allows for failure when the big guys make stupid mistakes. So no more big corporation bailouts: OK? In real capitalism people are allowed to fail and that is a very good thing. Failure can often lead to better things and feather bedding big companies is not real capitalism. It is tough medicine when you say no company is too big to fail but it is the way it must be if we want the crony Capitalism to end.
I learned this truth early in my career when Microsystems International failed in Ottawa in 1973 and 800 jobs were lost. Failure of one company can often lead to grand success. From the failure of MIL came the creation of Mitel Corporation which was a successful entrepreneurial spark in the City. The spark ignited a firestorm of success and eventually hundreds of small and medium sized technology companies were started which resulted in creating over 80,000 jobs in the Ottawa Valley. That is true capitalism where problems are turned into opportunities through the hard work and creativity of individuals. We face a threat to our capitalist system. But it’s not coming from half-naked anarchists manning the barricades at Occupy Wall Street protests. Rather, it comes from a financial system that glides along without enough of the discipline of failure and that produces soaring inequality, socialist bank bailouts and unaccountable executives.
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