Worldview Thought for the Day
As the drumbeat of government bailout continues, we march further away from bailing out the very people who are most likely to be able to end the current economic downturn and ensure future prosperity for us all. While we allow for government intervention in private markets and tax-payer funded buyouts of institutions whose long-term viability is in doubt even with tax money infusions, we ignore the people who have traditionally made American great and strong.
We are a nation of entrepreneurs and inventors. From Benjamin Franklin to Burt Rutan, we have always been a people full of curiosity and ideas. The list of modern technologies that Americans invented or perfected is mind boggling. There is very little technology in common use in the United States that did not begin in the United States.
Yet, instead of seeking out the current generation of entrepreneurs and inventors, we seek to prop up the last, dying vestiges of industries and institutions whose time has passed. Sure, ends of eras are traumatic as people who worked in one industry have to prepare themselves for the next, but right now we are not preparing for the next but holding on to the past.
The results of this idea that we must preserve what we have already lost is telling. The United States continues to lag behind in critical technological pursuits like the development of robotics and nanotechnology. We are critically dependent on foreign nations for our supplies of energy. A great deal of current advances in science and medicine occur in Europe and the East.
Meanwhile, we have real needs and challenges that we could meet with entrepreneurship and inventiveness here at home if we would just try. We could solve energy dependence. We could solve crumbling infrastructure. We could solve our problems with education. But, before we can, we need to invest in those solutions.
The answer, then, to our current economic woes is not to bail out failed institutions, but to invest in the creation of new ones. There are thousands, maybe even millions, of people in the United States with good ideas just waiting for a chance to make them great. All those ideas need is investment, probably investment at a fraction of what our failed institutions are demanding. All that it would take to change that investment to the right one is public outcry.
Where’s your voice?