Former President Bush got his way. We are now the ownership society. We all own the mess known as the US Economy. And as owners of the economy, whether we consciously bought into it or not, we have a variety reactions. Here is mine.
One is to hope that others from the new Administration to the titans of American business left standing will figure out a solution to our economic crisis that will benevolently secure our financial futures or its alternative, which is to individually, and when possible, collectively muster our resolve, brains, experiences, and talents to forge our own futures given whatever conditions confront us.
I think that there has been a shift in the economic relationship between organizations and individuals over this decade. One that leaves individuals needing to fend for themselves more competently in a business climate that needs the best talent available in order to weather this storm. Much needs doing from environmental remediation, to infrastructure improvement, to combating poverty, to keeping technology moving robustly forward to help with all of the above and more. And in doing so, there should be money to be made out there.
Perhaps one of the ways to loosen credit markets is to have ideas worth financing. If I were a lender, I too would be nervous lending to businesses and concepts that are counter-progressive and tone deaf to the real economic needs of people. Legacy scenarios of maintaining a national lifestyle characterized by resource over-consumption to the detriment of the planet and our fellow world citizens can’t go on as before. We need creative individuals thinking entrepreneurially, resulting in business models and plans that help build back American confidence toward a better future. And we very much need credit unions and banks willing to take chances on financing the long-term return of America.
Whatever the stimulus ultimately is that transitions us to a more stable and sustainable economy, it’s got to be more than just large sums of taxpayer money, and it’s also got to be made up of a lot of good business ideas that move us forward as a people.
New Hampshire has the potential to be a player here. There is talent in this state. Cross-generationally there are people who can use their skills and experience to champion winning ideas that benefit us all. What better way for New Hampshire individualistic resourcefulness to be expressed?
Also necessary is establishing legal and legislative means for attracting and retaining a creative and forward-looking workforce. This is essential for New Hampshire in these times.
Getting out of the economic demise must be largely from Main Street, not Wall Street or even Pennsylvania Avenue. We now own it. Time to start climbing out of this deep economic hole.
