"There is no shame in being poor. But it sure can be inconvenient." ____ Unknown
Poverty is a sad fact. We are bombarded with erroneous academic theories and self-serving political prattle on the causes—particularly at election time.
These proponents of pessimism want us to believe wealth is limited. If you are blessed with two pairs of shoes and three meals a day you should feel guilty and forced to divide with those having less. After all, the world’s wealth is limited.
These bad news bearers are wrong. Opportunity to create new wealth is unlimited. New wealth comes from hope, ideas, inventions, from the earth itself—not from the negativism of envy.
Until the 19th century, oil was a gooey muck with limited use and value. Then came the internal combustion engine and numerous new petrochemical products—and billions in new wealth.
In the 1950s, tiny transistors began to replace bulky and power consuming electron tubes. Transistors revolutionized electronic circuit construction. Engineers produced entire integrated electronic circuits on a single silicon wafer. Existing products were simplified and improved. The transistor gave birth to new products, new businesses, and new wealth. For those of us in the electronic and communication business the possibilities were exciting.
None could imagine the wealth creating opportunities the microchip and personal computer would bring.
Today, the microchip continues to create new industries and new wealth. Made of silicon an element of sand, the microchip is a winning combination of dirt, an idea, and hard work.
Hope, new ideas, hard work, and freedom to succeed are the answers to poverty. Not envy. Not lowering everyone’s living standard by taking from the haves and dividing it amongst the have nots.
To create new wealth and raise everyone’s living standard we need men and women with character, entrepreneurs dedicated to honest work and service to others. And that is the small-business owner.
Each year thousands of entrepreneurs start a new business. It may be a one-person enterprise today, but a potential Fortune 500 company. It may be a part-time business conducted from the kitchen table. All create new wealth—the real answer to poverty.
Ever so often someone like Microsoft’s Bill Gates takes an idea or a resource and creates billions in new wealth. For that we are thankful. It is, however, the hundreds of thousands of ongoing small entrepreneurs and would be entrepreneurs who created and continue to create trillions of dollars in new wealth.
"But things look so bad now." Don’t listen to these bad news bearers—the why you can’ters. They are wrong. Why you can’ters always have a reason not to try.
Even after the devastating Market Crash of 1928-29 and the1930's Great Depression that followed, thousands of new and successful small businesses were started each year. Today, an estimated 45 percent of all U.S. households support a home office or business activity. Many are successful part-time ventures, endeavors undertaken to earn extra income. Others are flourishing full-time enterprises.
"If people did not prefer reaping to sowing, there would not be a hungry person in the land." ______ Unknown
America has her difficulties, but the opportunities to accomplish have never been better. To succeed it takes the three Ps: preparation, perspiration, and persistence. And today’s business, investment, and personal opportunities available are varied and numerous.
Unfortunately, there are many pseudo-opportunities, ideas with little or no possibility of making money for anyone other than the promoters. They usually operate on the "Greater fool theory." The theory that caused the Dot-com bust of a few years ago and the real estate debacle of 2008. This is the belief that no matter how much you pay, regardless of true value, a greater fool than you will come along and pay you more. The "Greater fool theory" is similar to the children’s game of Hot Potato. To avoid being left holding the Hot Potato, do not play with those who prefer reaping to sowing, wealth without effort.
Yes, poverty is a sad fact. The poor we will always have with us. When it comes to helping the poor, due to our Judeo-Christian heritage, we are the world’s most generous people. We Americans give billions of dollars in aid out of both our public and our private purse. To continue to do so, we must have the freedom to create new wealth. That requires a government that respects and protects our individual right to life, liberty, and property. Creating new wealth depends on a government that allows the individual to prosper, to freely pursue his or her dream. Not a government based on envy.
_____________ Michael E.Odell
For Other Posts by Michael E.Odell —click on "Blog Archive" at upper right
05-11-08 But What Can I Do? Christians Should Not Be In Politics
04-11-08 Sex, Debt, Drugs - America's Epidemic & New York’s Governor
03-28-08 Rare Coin Investments 101 & Choosing A Dealer
03-20-08 Gold Mining Stock Investing 101 - Booms & Busts
03-15-08 Gold Coin Investing 101
03-15-08 Investment 101 - only safe way to double your money
03-03-08 Real Men or Girly Men
02-29-08 A Cup of Hemlock for Washington State
02-13-08 Death & Suicide Initiative 119 Are Back
02-12-08 Thorns or Roses - The Choice Is Ours
02-12-08 Recession & Inflation - Government the Problem
12-08-07 A Hamburger Today & Pay Tomorrow
About Me
- Michael E. Odell
- Michael E. Odell, a political polemicist with a working background in sales, finances, politics, writing, broadcasting, and teaching small business classes on several college campuses. He has authored several books including Gold A Layman’s Investment Manual, Business Plans for Lemonade Stands, and Marketing Plans for Lemonade Stands—and an occasional poem for his own pleasure. He was first elected to the State House of Representatives Spokane Valley’s 4th District in 1962 and ran for Congress in 1968. Fifty years an outspoken advocate of less government and more individual responsibility.