May 26 2009

American Priorities

Categories: Leadership | Economics | Ethics

Posted by Dean Zatkowsky at 9:43 AM
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By Dean Zatkowsky

Because I watch The Daily Show and The Colbert Report on my computer, I've seen a certain AT&T ad about a hundred times in the last couple of months. The ad explains that the company will soon be replacing its vehicles with a fleet that operates on "American natural gas." The spot concludes, "It's smart business. And if it makes our country stronger, that's even better."

Well, yes it is, but I think AT&T's ad agency has unintentionally illustrated a bit of a problem in our society these days. Their verbiage suggests that business comes first, and the country is an afterthought. AT&T may not feel that way - I'm not going to hold them responsible for a copywriter's syntax - but many companies do. Writing about Wall Street for the last decade, I've read the work of hundreds of investors and CEOs who preach that a public company's sole responsibility is to generate profits for shareholders. And they are adamant about this - the very idea of social responsibility seems heretical to them. As far as they are concerned, creating wealth and employment is social responsibility enough. But what if it isn't?

The "business first" crowd insists that without the economic blessings of capital, America could not exist. I believe this is true, but the inverse is also true: without the constitutional democracy and government protections of our unique nation, capital would have no safe place to work. But this is not a "chicken or egg" argument.

Making our country stronger should not be an afterthought. Some ideals are more important than others, and to paraphrase the opening of AT&T's ad, it is in times of challenge that we must choose. Fortunately, we don't have to choose between our beloved country and our beloved capitalism. But we must insist that our capitalists - in business and in government - recognize their patriotic duty.

Venal corporatism has weakened America, just as President Eisenhower predicted it would, threatening our personal liberty and national sovereignty. Wall Street, Madison Avenue, Washington, and State Capitols need to get their priorities straight and learn how to take one for the team. We just celebrated Memorial Day, honoring the memory of those who sacrificed their lives for our liberty and prosperity. Instead of asking what they can get from each other, our business leaders and politicians need to stand up and declare what they are willing to give up for our country. A little bit of shared sacrifice might go a long way toward healing the distrust and cynicism dividing our nation and impeding our recovery.

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