I have a great book by Mortimer Adler called, ‘The Great Ideas.’ In there, he understood that there are a definite number of Great Ideas which form the core of the thought of Western Civilization and the keys to understanding Art, Democracy, Emotion, God, Love, Truth, and Work. He was known for revolutionizing the Encyclopaedia Britannica and in addition edited hundreds of books. Looking at the decline of Western Civilization today, one might ask, “Have we seen the ‘Last of the Great Ideas?’
More recently entrepreneurs are known to have great ideas that make a difference in how we live for the better. Entrepreneurs are innovators. When an entrepreneur gets a great idea they innovate a previously accepted way of doing something. In essence they provide a solution to a problem of their times by seeing how something could be done differently, more effectively, and many times, more productively.
One example is McDonalds. Ray Kroc did not invent hamburgers. He simply had a new idea of how to produce them systematically. He then sold the idea systematically when he partnered with franchise owners. An entrepreneur’s timing is also important as is the case with McDonalds. Kroc’s new idea came during one of the biggest trends of industrial times, women entering the work force. Food was needed quickly since, in many cases, home cooking became more difficult with dual work schedules. Another example of how an innovative idea revolutionized an industry is Starbucks. They didn’t invent coffee. They systematized the way specialized coffee was sold while offering a gathering place for people in the community. The timing of this idea made them the biggest coffee franchise to date.
I see the ‘Last of the Great Ideas’ as one that could turn around the potentially tragic financial trends facing us today. Samuel Bryan writing an article for Peter Schiff recently exposed the extent of our economies problems. “The crushing weight of student loan debt increasing at a rate of about $2,726 / second… the mounting corporate debt, doubling since 2008… Credit Card balances are on track to hit $1 Trillion… Auto loan balances eclipsed the $1 Trillion mark in the first quarter of this year.” The Wall Street Journal reported that credit card companies are enjoying the boom in debt.” Combine this with the unlimited printing of digital money and many of us can see a perfect storm brewing. According to advisor on international economics and financial threats to the Department of Defense and the U.S. intelligence community, James Rickards writes, “It would take only a 1% loss on the Fed’s assets to completely wipe out its capital… The entire edifice of the Federal Reserve and the dollar rests on a single point of failure – confidence.” These trends if left unchecked will lead to a deleterious effect on Western Civilization and posterity.
The ‘Last of the Great Ideas’ makes information available that would help people understand the uncertainties in our economy in a way that could protect them as well as allow them to position themselves to be profitable from helping others who might be hurt in the next economic shift. The first step is to make understanding of the economy simple as opposed to the reality that a subject that Ivy League professors and financial elites purposefully make complicated. Best selling author and leadership expert, Orrin Woodward, enlightens us when he writes about a system of control that seduces people into debt that he coins, ‘The Financial Matrix.’ An entrepreneur who is an innovator may see this problem as an opportunity in disguise? Who would see that helping people get free from consumer debt, educate about how to create assets, and inform about a system that seduces us into debt as an opportunity?
How could a group like LIFE Leadership think that a systematic program like, ‘The Financial Fitness Program’ be attractive in a culture of complacency, consumption, and leisure diversions? Sadly, the prevalent apathy is, “Who Cares.” We would be fighting what the average person sees as a social net of entitlements, government programs, and unlimited creation of digital money.
But even an ostrich will look up when they feel the heat of burning fire. More and more people are coming to the realization that with new information, they can not only protect themselves, but prosper in this new economy.
I hope you enjoy Orrin Woodward's perspective on one of the 'Last of the Great Ideas.' God Bless, George Guzzardo