Do not go gentle into that good night,
Old age should burn and rave at close of day;
Rage, rage against the dying of the light
Though wise men at their end know dark is right,
Because their words had forked no lightning they
Do not go gentle into that good night.
Good men, the last wave by, crying how bright
Their frail deeds might have danced in a green bay,
Rage, rage against the dying of the light.
Wild men who caught and sang the sun in flight,
And learn, too late, they grieved it on its way,
Do not go gentle into that good night.
Grave men, near death, who see with blinding sight
Blind eyes could blaze like meteors and be gay,
Rage, rage against the dying of the light.
And you, my father, there on the sad height,
Curse, bless, me now with your fierce tears, I pray.
Do not go gentle into that good night.
Rage, rage against the dying of the light.
Do not go gentle into that good night - Dylan Thomas
As much as I am prone to seeing the glass half-full, there is a desperate need to spark that part of our nation that embraces all we have stood for -risk takers, idea-producers, empire-builders, life-extenders, dream-catchers. Just as Dylan Thomas exhorted his dying father to "rage" against dying, we must be contemptuous of ourselves for not trying. We must rage against folding into the status quo and accepting a life of well-worn paths of limited risk, and into a world where achievement is even more limited.
When it comes to taking charge of our future and starting businesses, fewer and fewer are up for the challenge. However, part of me thinks that the original design of that movement began by seducing people off the farm, and into living in a megalopolis run by mega-businesses, controlled in part by the government that has stake via legislation, rather than investment. The thing is, if Americans do not start businesses on their own, then who will there be to object to some far-flung idea of modern capitalism as envisioned by someone like Elizabeth Warren.
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Presently, more businesses are closing their doors, than new ones are springing up to replace them. This churn means that the notion of creative destruction is distorted, as fewer upstarts challenge those established giants. Great interventions and business models are delayed, and the ripple effect influences all phases of our lives. However, more importantly, this trend affects the ability for economic emancipation. The result is that even those who are not directly living off the dole, are still more indebted to bureaucrats and other centers of power.
The Last Wave By
Business dynamism is the process by which firms continually are born, fail, expand, and contract, as some jobs are created, others are destroyed, and others still are turned over. Research has firmly established that this dynamic process is vital to productivity and sustained economic growth. Entrepreneurs play a critical role in this process, and in net job creation. -Brookings Institution
Don't Let the Sun Go Down
How do we turn this wave around? It is not going to be done by so-called empowerment zones and elementary school grade inflation. By turning this around, we have to return to the idea of risk and reward and cheer success. We must loft the entrepreneur on our shoulders, and not curse the fact that her company can donate to political causes or expand globally. Stop the Fed from printing, stop bailing out big banks, and encourage small banks to make loans. I would even like to see the return of the penny stock market.
The Brookings data goes up to 2011; however, I suspect it has actually gotten worse.
The light of life shines longer, but we must spread the word that it can shine brighter with the kind of thrill and joy that comes with building something that provides a service or product, and hires others in the process. Looking at the chart, the only time the long-term down trend was interrupted was during the Ronald Reagan years, which proves that it can be done with the right cheerleader and the right policies.
America's entrepreneurs and would-be business owners must not go gently into the night.
ISM Manufacturing News
I know this was out yesterday, but more than the numbers, I am hopeful about the commentary that was made by business owners. Of course, cautious optimism has been a key characteristic so long, that one could argue that it has become a liability.
* "Our outlook for 2014 remains on target. No significant changes with our customer base." (Management of Companies & Support Services)
* "General business conditions are improving." (Information)
* "Market conditions are generally steady; internal pressure to reduce overall cost of goods and services." (Finance & Insurance)
* "Business levels have been stable. Our company made an acquisition this past month, so we are planning for revenue growth in the second half of 2014." (Real Estate, Rental & Leasing)
* "Traffic and sales are up due to break in weather." (Accommodation & Food Services)
* "Overall spending continues to trend upward, particularly for large dollar items, like vehicles and aircraft, as the state replenishes the fleet that was depleted during 2009-2013." (Public Administration)
* "We are experiencing a pickup in sales, which has brought back a little optimism that we may have seen the floor, and things could be turning up. We are making investments to take advantage of the upswing to leverage as many sales options as possible." (Retail Trade)
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