The Coach's Corner

It’s All About Jobs, Part 2

October 22nd, 2018 // Tom Doescher // 0 Comments
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Tom Doescher - Doescher Advisors

In my last blog, I discussed the commitment Barbara and I have to helping business owners create good jobs. I mentioned Defending The Free Market: The Moral Case for a Free Economy, written by Rev. Robert Sirico, a Catholic priest and co-founder and president of The Acton Institute. Fr. Robert comments on many topics, but here are some takeaways specifically related to jobs:

  1. The expression “to make money” is a very good description of the process in a free market. It all begins because people are making things or creating things (it may be a product or a service). Before the taking comes the making.
  2. An increasing number of experts from the developing world have come to recognize the pitfalls of government-to-government aid. (Editorial comment: Barbara and I have observed this firsthand in many countries.)
  3. The countries that have found ways of unleashing creativity through economic freedom have lifted millions out of poverty.
  4. Capitalism is fueled by human creativity in a system that rewards people for serving the wants and needs of others.
  5. In summary, the identification of greed with business profits and generosity with not-for-profits is too simplistic. As tempting as it may be, we cannot demonize profit and canonize poverty. (Editorial comment: Fr. Robert does a wonderful job of making this point. I can add that, for years, I’ve observed business owners do many wonderful acts of kindness for their associates and for the poor in their communities. I will continue this series and share some of my favorites.)
  6. The entrepreneur in a free market, far more than the government bureaucrat or central planner under socialism, must submit himself to the wants and needs of the consumer if he is to profit.
  7. What tends to make people happier is earned success — in other words, the feeling of accomplishment that comes with a job well done, a job that others find valuable.

Fr. Robert provided many references to credible research studies and wonderfully explained many different dynamics of a “free market” approach versus the alternative.

For those interested in learning more about this subject, I would recommend reading Fr. Robert’s book as well as a number of the books he references, such as The Road to Serfdom by Friedrich A. Hayek.

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Tom DoescherYou’ll find stories from the trenches, business lessons, and pertinent questions to help you find inspiration, professional growth, and leadership savvy.

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