- Don't take away this important God-given right.
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NOTE: I originally published this article in 2009, back when the government was offering stimulus money to banks and manufacturing companies during the Recession, a policy I opposed both then and now. The point of the article is as relevant today as it was back then, especially in lieu of the $3.5T stimulus bill President Biden is proposing, which includes a list of new entitlements and a redistribution of the wealth. What I am herein describing is an inherent part of capitalism of which I am a proponent, the "natural" way of encouraging change in our society, certainly not socialism. I hope you enjoy it.
As a youngster, one of the things I learned early on was that winning and losing was a natural part of any game I played, be it baseball, football, hockey, Monopoly, cards, you name it. Somebody wins, somebody loses. Nobody likes to lose, but as I have written in the past, there is nothing to be ashamed of if you have tried your best, but still failed. In fact, I have more respect for the person who valiantly tried and lost, as opposed to the person who won by cutthroat tactics or cheating.
The point is, failure is a natural part of life and an inherent property of evolution (see Charles Darwin). It is a strong message telling us what we are doing is not working, and we can either learn from it and change or ignore it and perish. It's nice to have a safety net, but where would we be if nobody took a risk? Without failure, life stagnates. We cannot make progress if we are not allowed to fail. Entrepreneurs, adventurers, and other Type A personalities understand in any venture there is a certain element of risk, whereby they will either reap the rewards of success, or taste the agony of defeat. They weigh the risks carefully, then work overtime to assure success, but they clearly understand there is no such thing as a guarantee for success.
There are people today who want to eliminate our right to fail, that nobody should experience the pain or embarrassment of defeat. This is why I have a problem with government bailout and stimulus plans. They will only be a temporary fix, and the companies will not make the severe and necessary changes to survive in the years ahead. Only failure will cause them to make the required changes. To my way of thinking, the government bailout plans are only delaying the inevitable.
All of the greed and corruption we allowed to creep into our business practices have finally come home to roost. Consequently, companies are no longer maintaining a competitive edge in business, and are losing money due to unscrupulous self-centered interests and just plain stupid business decisions. The companies are all sorry for the problem and promise to never allow it to happen again. I don't believe an accused murderer could say it any better. They all want redemption without having to worry about paying a penalty. I'm sorry, but that is not how the game is supposed to be played, but then again there are those who want to change the rules so that nobody loses. This is just plain wrong.
If you believe companies will make the necessary changes in their policies and operations, simply because the government is going to bail them out, you are taking it in the arm. Like it or not, failure is the only real catalyst to invoke change. Nothing is more powerful to truly change someone than failure; ask anyone who has experienced it.
Nobody likes to take their medicine, but I'm afraid it is time to pass out the Castor Oil and tablespoons. It may sound silly and I don't expect a lot of people to jump on the bandwagon, but it's time to "Protect our right to fail!"
First published: March 9, 2009
Keep the Faith!
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Tim Bryce is an author, freelance writer and the Managing Director of M&JB Investment Company (M&JB) of Palm Harbor, Florida and has over 40 years of experience in the management consulting field. He can be reached at timb1557@gmail.com
For Tim's columns, see: timbryce.com
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