Is it too late for our
economy?
Richard W. Whitrock
Opinion Columnist
Unfortunately for most Americans, the recent
struggle of our economy could have been avoided.
It has been quite a fall from the top for
the Dow Jones, and the promises of the new economy offered almost more
than anyone could have
imagined. However, because of greed and
dishonest business practices, what could have been was left at just that.
There have been many valuable lessons that
Enron, WorldCom and Arthur Anderson have taught us about the world.
America was on top for so long that many
people simply forgot what it was like not to have everything working in
our favor. When times are good,
things are taken for granted, but I doubt
than anyone from those companies will take a burgeoning economy for granted
again.
I can still remember the headlines all
those years ago when the Dow finally broke 7,000. Everyone was so shocked
and so happy; it was
something that had never been done before.
Those feelings were relived when the Dow
rose above 10,000. Lately, those feelings are long gone, the memories overshadowed
by fears that
recall the early 80s.
The fact of the matter is that even though
most of America contributed to that great economy, it was just a small
few that brought it down.
Where would the economy be right now if
those companies had just practiced ethics, if they had allowed their honor
and good sense to
outshine their greed?
Bad management, bad money handling and
corruption — all of it points to the fact that even in our moment of greatest
achievement, all anyone
in power ever had in mind was themselves.
The selfishness of it all makes me sick, and it makes me afraid.
As we all know now, things look different
from the top. I find myself wondering what it was like to be in the Roman
Empire, and if the end of
Rome looked anything like America today.
The road to the top is very different from
the top itself. When America was still working to get at the top, our differences
weren't so petty. Frivolous
lawsuits were maybe one in 10, now they
are a dime a dozen.
There's no tolerance, no morality and courage
is in short supply.
America can't let things continue this
way. Immoral, unjust, or just plain bad business practices that have come
to the end of their short run
benefits can't be all we have left.
It took more than the few that brought
us down to put us at the top, and until we can have faith in each other
again, America's economy will not
recover. The problem with faith and trust,
however, is that they must be earned.
If we want big business to think more about
the little man, then we have to care about more than just ourselves as
that middle man. What's in it
for me? That's not a question that we
should ask.
We aren't so far from the top that we can't
recover, but we need the moral courage to do what's necessary. No more
selfishness, blame-shifting
or petty bickering. If we can't trust
each other and cannot be a moral people, then this could be the beginning
of the end.
