Posted by
Michael Davies on Wednesday, December 10, 2008 5:55:48 PM
“U.S. Could Take Stakes in Big 3” Ran the headline on today’s Wall Street
Journal. The irony is not lost on me; a British citizen currently marrying an
American, and seeking residency and future citizenship in the U.S.
When I initially left Britain,
in the fall of 2001 we had just lived through a decade of restructuring and
this was continuing under the reign of Tony Blair.
The British Government used to own British Airways, British
Rail, British Telecom, the entire health service and electric use in the U.K
and Northern Ireland.
All of the above have now either been entirely privatized, or people have been
given access to choices in the private sector where before there were none.
Even with our vaunted National Health Service Tony Blair had recognized the need
for the citizens of Britain
to have other choices if they could afford it and so choose. The reason? All of
the above were failing.
Enter the “Bail Out” in the U.S.A.
While Government may not entirely be running such businesses as the U.S. Banks
and auto firms, they are taking a much greater role in its oversight and a much
greater investment in its stocks and shares. I wonder what the American people
would have said fifty years ago had one told them of the current crises. Has
capitalism really failed so badly as to necessitate the need of this kind of
intervention? If so, was it capitalisms fault or the fault of past Government
intervention?
If one determines the latter, then isn’t it logical to
assume we’re only setting our selves up for another, bigger problem and several
years down the line, more big Government?
Just the other day I was talking with a colleague about how
much I loved the American spirit of creativity. Traditionally, in business, if
it couldn’t be done one way you would try and find another method to make it
happen! Where has that spirit gone? Has America
lost it amidst the constant running to Uncle Sam for help? If we’re always
given to, and we’re always entitled where does the school of hard knocks teach
its lessons?
I’m reminded of the metamorphosis that a caterpillar goes
through to become a butterfly. Has it not been proven that if it is given too
much help to break out of the cocoon it will fail miserably in its new role?
No, instead let it learn to face trials and conflict without the interruption
of others for only then can it become everything it is capable of.
When will America
re-learn the lessons of its history? Through much hardship comes character, and
through character comes perseverance, and through perseverance success. For if
at first you don’t succeed, try and try again.
Michael Davies