How big do you want to dream; and how hard do you want to work? Pay the price today, so you can pay any price tomorrow.
The poor man resents the rich man. The rich man looks down upon the poor man. Yet, one doesn't exist without the other in the American economy. How did we get here? It’s not different opinions, it’s different facts. It’s only different because we allow it to be.
American Capitalism has continuously evolved throughout our history. The balance of power has evolved with it. We have transitioned from free markets with limited government, to highly regulated "free markets", in an effort to even the balance of power and distribution of wealth in society. "No regulation" has the opportunity to create chaos, while big government and “over regulation”, undoubtedly restricts the free markets of American capitalism.
Theodore Roosevelt is someone who recognized this in its infamy. Teddy Roosevelt was the Governor of New York before joining the ticket as Vice President, of then President William McKinley. After winning in a land slide, they took office together in January of 1901. President McKinley was assassinated 6 months into the term and then Vice President, Teddy Roosevelt, assumed the Presidency as the 26th President in American history, and the youngest to hold the office to this day. Teddy was elected as a Republican, with a pro-business ideology. To the surprise of many, after he assumed the Presidency, he supported a variety of anti-trust and progressive policies. Whether you agree with the progressive policies that became the Roosevelt agenda or not; he pushed the boundaries of his time, in an effort to level the playing field between the laborer and the rich man. If his political party knew this was the way he would govern, he never would have been nominated to begin with. In his own right, this was a way for Roosevelt to preserve the American dream for the working class; but also open the doors to the future of big government and institutional regulations. Teddy may have won some battles during his time, but the war wages on to this day.
On the other hand, during the same historical time frame, we have Andrew Carnegie. A true and passionate believer of American Capitalism and the opportunity it has created for all of mankind. What is American Capitalism? What does it represent? It represents extreme individualism. It represents the vehicle of wealth accumulation. The wealth in the hands of the few, who know how to better facilitate its utility, and have more overall beneficial impact on society and the race. We the industrial capitalist can do better for them, than they can do for themselves. Yes, there are consequences of capitalism, but the argument is made that the benefits far outweigh these consequences. The benefits: luxuries and commodities are more accessible and available than ever, offered at prices generations before could not have imagined. The poor enjoy what the rich could once not afford. The luxuries have become the necessaries of life. The common man in America has books and paintings more elaborate than the King could once obtain. The condition of the race is better with these principals than any other utility that we have tried. If thou dost not sow, thou shalt not reap. Neither master, nor servant was as well situated then, as they are today. The consequences: Thousands of operatives are assembled in factories, farms and other industrial landscapes. These large industrial enterprises know little of the working man in their factory, and the employer accumulating the wealth is almost a ghost or mythical figure. Rigid castes are then formed, resulting in mutual ignorance then breeding mutual distrust. Each caste is without sympathy for other and ready to credit all bad acts towards the other. The solution: The accumulation and then administration and distribution of this wealth is key for capitalism to move society forward. Social and political equality improve when the surplus wealth is returned the community. This is the concept that has the opportunity to create a harmonious relationship between the rich and the poor - and a chance for that American dream to be present for all who have the ability and desire to try and climb that ladder.
Some can make the argument that one of the largest opportunities in modern day American Capitalism is not as simple as the lack of or too much government intervention and regulation; but the lack of understanding of one of the purest fundamental values of American Capitalism. The issue at hand is how the extremely wealthy are choosing whom and how to distribute the wealth acquired thru capitalistic endeavors. If we want to hold true to form, once these individuals reach a certain point in their lifetimes, there should be redistribution of wealth thru philanthropic efforts of the individual, so it is clear and visible to the working man. The working man then sees how not only he benefits from being employed, but also recognizes and receives wealth back through clear philanthropic efforts of the extremely wealthy. The wealthy who leave their full riches to their family to protect their name and legacy, should do so in modest accord, as it has the potential not only to do a disservice to society but to the beneficiaries of their wealth. This disservice is to be accounted for in the vehicle of an estate tax, with a wealth tier. This can be viewed as a fair re-distribution of wealth for endeavors in American Capitalism. Benefiting the working class and also minimizing tax on American businesses? To the contrary, we can also then make the argument that if we limited the income tax on the population, more wealth would accumulate amongst a broader segment of the population, and in turn they would feel more obligated to give back to their local communities in philanthropic efforts.
Does this ideology transform the right to being more progressive, yet holding truer to fundamental conservative economic values? While also transforming the left to become more capitalistic with trickle-down economics, yet holding true with giving more rights and opportunities to all? One which is simple enough for all Americans to understand and relate too? Does this also have the ability to create a moral code in its own right?
This American dream still exists for those who choose to see it. There are many opportunities we have as a nation, but we still offer the ability to dream. There is no nation that offers this same dream, as much as we want to tell ourselves otherwise with how embarrassed we may be in the state of our nation's current affairs. The dream requires hard work, hustle, determination, and a little luck along the way. But it is there for the taking. It just depends how bad you want it. - We also need to remember it is our responsibility as the people, to preserve this dream and protect the great American experiment in democracy, and the institutions it represents.
Carnegie was a factory worker's son, who also worked as a laborer before having the opportunity to work in an administrative role at a telegraph office. He then went on to live out his American dream. Countless others have set this example, and it is fact, black and white. Vanderbilt, Edison, Rockefeller, Pulitzer, Ox, Walton. Think of the ingenuity by these American capitalist figures who fulfilled their American dream. This is the dream we are fighting for.
Dream Big.
Go get it.
-VC
Very well said.