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capitalists should write more
Overview Transcript Case Study Video
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The students in Tiananmen Square built a "Statue of Liberty" in the image of US Lady Liberty.
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The American Version Of Capitalism Has Not Been Articulated Well

We entrepreneurs are "doers" and "sensors" more often that we are "thinkers" or "observers." These terms are used by educators and sociologists to define our different styles of learning.

Topic for Discussion: Why is it important to understand Novak's message? He's a liberal arts guy -- we're in business!

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Key Ideas of this episode
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1. Capitalism is the Only Proven Path from Poverty to Prosperity
2. The American Version Of Capitalism Has Not Been Articulated Well
3. Many Owning A Little Is Better Than a Few Owning A Lot
4. Business Owners Are Not Elites
5. Capitalism Requires A New Attitude About the Creation of Wealth
6. Struggle for Improvement
Is A Moral Duty
7. Capitalism Does Not Thrive Unfettered
8. Capitalism Depends Upon
Hard-Working People
9. Democratic Capitalism Is A
Three-Legged Stool
10. Business Is Not About Greed
11. Capitalism Is Good For The Soul
12. Capitalism Is Organized
Around The Mind
13. Small Business Is The Most Important Institution In A Civil Society
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Answer: If we don't understand the framework of our democratic capitalism, we are poorly positioned for success. People like Michael Novak provide us with tremendous insight to the evolution of the American economy. Understanding the evolution leads to a better understanding of the environment, of how our customers, vendors, and employees think, and of what motivates them. In this ever-shrinking world, whether we like it or not, we are all now operating our businesses in a global economy. You may not sell your product or buy your inventory from outside the USA, but virtually all of us are lodged in a supply chain that extends around the world. We need to understand more of the world in order to operate more effectively and profitably in it.

Someone once said that if you don't keep growing, you'll get ripe and rot.

Read a book, take a course, watch a documentary…it really doesn't matter which media you select. The important thing is that we expand our knowledge and deepen our thinking about the world we live, work and play in.

You think about it: Could teaching the lessons of America's economic success to your employees help them appreciate business more fully? Would it help them see beyond their own paychecks? Does understanding Novak more fully make you feel good about going to work everyday?

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