Capitalism & Free Markets for Thought Leaders – What They Don’t Teach in Business or Law School
The Michael Jordan Theory of Laissez -Faire Economics by Counselor George Mentz, JD, MBA
Over the years, it has become increasingly difficult to discuss the power and challenges of global capitalism and laissez-faire philosophy to the average student. Here is a quick sports analysis of international business and some bullet points to help you think about team performance, team players, capitalism and fair trade.
- In economic theory, the team or stakeholders are composed of: your company, your customers, your community, your employees, your suppliers, and your investing risk takers.
- If you have one top player who is excellent at what they do, and you have that person on your team, it changes the entire ability of your organization to excel, create or compete. Example: The Basketball Legend – Mr. Michael Jordan
- Major objectives and challenges to leaders are how to reward your top players, how to incentivize the rest of the team to support each other. One might ask, “Is it fair for Michael Jordan to get the ball more than others or shoot too much”. It is right and fair for other players to learn how to best feed the ball to the top player to score.
- If you can strategically recruit team members from diverse regions of the country and the world, you could secure the best talent based on skill and competency?
- Even when you have a superstar player who is an incredible at scoring against the other teams, you cannot succeed unless you have smart coaches, smart players, smart schedule, a great offensive line, smart defense, smart play calling strategy, and healthy players. If the other team players do not maintain their health, skills, or continue to contribute, it will hurt the entire team and the community at large.
- If the team is effective, it puts food on the table for the: community, staff, coaches, players, families, and so forth in the form of: revenues, jobs, tourism, rights, ticket and merchandise sales and more.
- If your team is competing against 180 other teams, would it be smart to allow your team to complete without excessive regulation, toxic fees, debilitating taxes or penalties. If you don’t reward and compensate your producers, will they underperform? Will they leave to go to another team? or take their technology offshore to another team? How much does the economic environment tax the team corporation, how do you tax the players, taxes tickets etc. If taxes or regulations are too high, will players or owners go to another team, city, or country to play?
- Shouldn’t we applaud all those who contribute to the government in “FOR PROFIT” activities? Remember that big earners are the big contributors? The average superstar only makes big money for just a few years and pays HUGE taxes when he or she earns big to both states and the federal governments. Without profits, no company survives. If every business was not-for profit, the government could not feed orphan and widows, encourage economic freedom, or pay it’s employees. Without profits, the community fails, the company employees lose their jobs, the suppliers fail, the public schools fail, teachers lose their jobs, hospitals go broke, and the shareholders take their money elsewhere.
- If there are no investors or shall I say “contributing earners”, then the money all flows to the other 180 teams who have better business environments with names like: Mexico, Japan, China, UAE, Kenya, India, or the Philippines. There is nothing wrong with the other teams, but rather, your local team needs to build its own schools, fix it’s roads, build its hospitals, and feed local widows and orphans as a priority so that the team can produce and work in a sustainable environment . As a note, some innovators and inventors are creating services and products that DO NOT Compete but rather solve problems such as disease, suffering, disasters, or just mitigate regular problems. Thus, thus economic pie continues to expand with the internet, communications, medicine, technology, science, globalization and more.
These are just a few questions you must ask. Yes we need BOTH team players and superstars to innovate and compete in this global economic environment, but we need to realize that a team must have a sustainable business environment conducive to success to compete on a global level. With 95% of the world’s population outside of the USA and 40% of the S&P revenues coming from offshore, the USA in particular must SELL to other nations to grow the economic pie for everyone around the world and increase global productivity, global health, and global prosperity. Moreover, US companies are routinely taking advantage of economic climates and jurisdictions offshore which are more business and employee friendly.
Technology and globalization has crushed the old ideas regarding taxation and free markets. Given enough bureaucratic intervention, people and business will partially leave the USA and establish companies offshore to sell stuff to the rest of the world’s 95% of the global population. Recently, even UBER set up offshore tax schemes just like Google and other big players to retain earnings offshore which limit payments of US Federal and State taxes. This is the direction that global business is headed, and we must enhance laws and regulations to make sure that local workers have opportunities for the American Dream so that our local team players may create and innovate in an entrepreneurial friendly environment.
Here are some publicly traded Consulting Companies of Interest:
- Booz Allen Hamilton Holding Corporation (NYSE:BAH)
- Accenture Plc (NYSE:ACN)
- Cap Gemini SA (EPA:CAP)
- Others include: McKinsey, Bain and Co., Price Waterhouse, Deloitte and many more.
Counselor George Mentz (Doctor of Jurisprudence/ JD and MBA) is a world recognized author and self-help and wealth management commentator who has several professional development education companies which have trained over 10,000 professionals in over 40 countries. Mentz’s new book, Quantum Bliss, is being released in January in the United Kingdom. www.quantumbliss.org Prof. Mentz, an international attorney, founder of the GAFM Global Academy of Finance and Management ® www.gafm.com , has been a keynote speaker globally in the USA, China, Asia, Arabia, USA, Mexico, Switzerland, and in the West Indies. Mentz has consulted with governments, world leaders and Fortune 500 companies. Mentz has published bestsellers in the following categories: Money and Monetary Policy, Economics Money and Investing, Leadership , Education Training, Management Science, Mysticism, Psychology, and in Spirituality. Dr. Mentz can be contacted for speaking engagements at www.gmentz.com or http://www.linkedin.com/in/georgementz *No tax investment or legal advice provided herein. Please consult with a licensed professional in your jurisdiction before making any important financial or legal decision. Mentz is a licensed counselor of law LA USA. http://gafm.com