Andrew Jackson, with his forced march of the Cherokee along the Trail of Tears is no darling of humanitarians. He did, however, get one thing right. Upon closing the Second Bank of the United States, he correctly accused the bankers of having privatized gains while socializing losses. He recognized, two hundred years ago, what many of our most revered economists fail to acknowledge today. Many of our nation’s largest enterprises are leveraging the worst aspects of both capitalism and socialism.
There is a big, big difference between the entrepreneurial business person that can create something of value from almost nothing, and the custodial CEO, who’s chief talent is sticking it to taxpayers in parasitic fashion. There is a stark contrast, between the custodial management that persuades constituents and investors to expect every indulgence, as opposed to those highly disciplined entrepreneurial leaders who exude a spiritual idealism, one that has the awesome power to take an enterprise and even a nation from one level of attainment to the next.