We Didn’t Learn Anything from The Year 2008
We, like the Romans of yore, pulled down our own house on ourselves by processes of pure avarice and pleasure, just as they did. It has spread across almost the whole globe. Before we move on with this article, please register yourself on the bitcoin trading and learn to make the trade more enjoyable with this application.
Unfortunately, We Have Failed to Learn Anything from Those Past Experiences
This rescue was a ruse to debase the currency’s buying power in return for giving immediate value in the form of debt and devaluing the future worth of the money. These companies who had mishandled their finances could stay afloat by taking on debt (or making a commitment to pay back the loan at a later date in return for monetary value today). Although doing so enabled some people to keep their jobs and escape extinction, it did not provide the same level of protection for the majority.
Furthermore, we should remember that the debt was an obligation imposed by a small number of people but affected the majority. I’m referring to the whole population of the United States of America when I use the term “the many.” At that point, we were all responsible for paying the loan.
You may make a good income from it. Still, since it is so competitive, you must work hard to ensure that you remain ahead of the competition – working to understand your business better, learning to be more effective and efficient with your time, and so on. You’re putting in the effort to become the most excellent version of yourself possible to demonstrate to the market that your labor is worth the money you’re charging.
Consider the following scenario: one day, a stranger comes into your workplace or business and informs you that your salary assures each month and that you no longer need to worry about providing for yourself and your family. What exactly occurs in your head? You take it easy. There is no longer any need to be the best to justify your service pricing with this assurance. Was your work ethic harmed in any way? Do you put out the same effort? Now, discounting the small number of people in society who are motivated to be the greatest regardless of pay (which is a very, very small number), you don’t put out as much effort as you used to.
In situations where the reward is assured regardless of the result, you are motivated to perform the bare minimum since doing so is the most efficient. Because you pay similarly irrespective of the amount of work you put out, why put forth more effort? Consider what it would be like to be a business in the same situation as described above. Let’s even assume that the company is still striving to be the greatest, despite removing the revenue guarantee from the equation. One element has yet to identify as a motivator for people to go forward: fear.
What is the most probable consequence for a business if they no longer have to worry about their choices causing the company to collapse and resulting in the loss of livelihood for its employees? In my oh-so-humble view, the business starts to make choices that are stupid and irresponsible.
While the incumbent business is free of worry due to the government’s assurance of its financial backup, it is also averse to experimentation. Despite this, their protected, can’t-fail market position precludes new startup businesses from upsetting the current quo in which they operate. A new company would gain market share in a world where zombie corporations were not kept alive by artificial means. It is applying new methods of thinking that the present rulers could not realize, else the incumbents would already be practicing them. Darwinism, natural selection, and the life cycle are all terms used to describe this process, known as creative destruction in the natural world. It is a very routine procedure. As a result, just a few short years after the loss and devastation caused by the fire, another magnificent and flourishing forest has emerged.