Linus Larrabee: This, this is my home, no wife would ever understand it.
David Larrabee: Well neither can I You’ve got all the money is the world.
Linus Larrabee: Well what’s money got to do with it? If making money were all there was to business it hardly be worthwhile going into the office. Money is a byproduct.
David Larrabee: But what’s the main objective, power?
Linus Larrabee: Ah, that’s become a dirty word.
David Larrabee: Well then What’s the urge, you’re going into plastics now, what will that prove?
A while back I was visiting a friend at his employment (he was a golf pro at a country club) when his daughter who was in college at the time, walked in. I asked her about her major and what she was doing and she answered she was doing economic and already had a part time job at a brokerage, however she said it with some guilt as her classmate derided her job choice, one of the horrible side effects of the current socialist higher education system filled with liberals who decry Western Civilization, Christianity and Capitalism. Personally I think they were jealous of the money she was already making to pay back student loans, but nevertheless I told her she should be proud of her job, because if she did it well, people who saved money their entire lives would be able to live a comfortable retirement, and if she did it really well people would have money to invest in companies that produce the jobs that feed families.
I must have done a good job explaining it because she immediately lit up and told me that she never thought of that, nobody had ever explained it to her that way before, which means that obviously she had never seen the 1954 movie Sabrina staring Humphrey Bogart, Audrey Hepburn and William Holden about a chauffeur’s daughter (Hepburn) who falls in love with the playboy son (Holden) of her father’s employer who doesn’t notice her until she returns from cooking school in Paris just in time to throw a wrench into the plans of his older serious brother (Bogart) who has plans to use his brother upcoming 4th marriage to secure a business deal.
The movie also features both Raymond Bailey and Nancy Culp just under a decade before they would become the comedy team of Mr. Drysdale and Miss Jane on the Beverley Hillbillies, but I digress. Hidden within the 113 minutes about love, life and personal growth is a speech by Bogart’s character Linus Larrabee that perfectly describes what Capitalism is and what it does. It’s a speech that every college student in America should be required to watch.
For those who don’t have the patience to sit through the full minute here is the key quote.
A new product has been found, something of use to the world, so a new industry moves into an undeveloped area. Factories go up, machines are brought in, a harbor is dug, and you’re in business. It’s purely coincidental of course that people who never saw a dime before suddenly have a dollar, and barefooted kids wear shoes and have their teeth fixed and their faces washed. What’s wrong with the kind of an urge that gives people libraries, hospitals, baseball diamonds and, uh, movies on a Saturday night?
Back in 1954 when this picture was made when the ruins of the 2nd World War were still visible, 25 year olds could remember the great depression, the devastation of flu pandemics, life before electricity, movies, radio, phones and even ravages the Civil War were still in living memory, Americans knew and understood this facts of life explained in this speech and were pleased to gift their children and grandchildren a Pax Americana and a booming building economy to escape these pains.
Alas having been delivered from these horrors the children and grandchildren of those in the west who endured them in the west in general and of America in particular decided they knew better than those who overcame them and instead of embracing the lessons of that generation enrolled in the Kindergarten of Eden where they were taught that peace and prosperity were a birthright and that anything society that didn’t produce their heart’s desire was oppressive and evil.
As Robert Heinlein once wrote:
“Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.
“This is known as ‘bad luck.’”
This “bad luck” is what is affecting the Venezuelan people and it’s origin was the same socialism that the academics teaching our children uniformly cheered when it was implemented and then when this happened…
As The New York Times reported, “Venezuela was once one of Latin America’s richest countries, flush with oil wealth that attracted immigrants from places as varied as Europe and the Middle East.”
“But after President Hugo Chávez vowed to break the country’s economic elite and redistribute wealth to the poor, the rich and middle class fled to more welcoming countries in droves, creating what demographers describe as Venezuela’s first diaspora.”
Now, in their absence, things have gotten worse, and it’s poorer Venezuelans — the very ones that Chavez’s revolution was allegedly intended to help — who are starving. Many are even taking to boats, echoing, as the Times notes, “an image so symbolic of the perilous journeys to escape Cuba or Haiti — but not oil-rich Venezuela.”
Well, Venezuela was once rich. But mismanagement and kleptocracy can make any country poor and Venezuela — as is typical with countries whose leaders promise to soak the rich for the benefit of the poor — has had plenty of both. And now, though Hugo Chavez’s family has grown fabulously wealthy, the poor have nothing.
…denied that it was actual socialism.
This is what half of our society has forgotten to our determent as a whole.
Update: In comments Stephen hands notes ” most rich men are not selfless, celibate vocationers like Bogie’s character but covetous idolaters and warmongers”, however I note that the jobs and economic prospects created by industry are the same regardless of the virtue or lack thereof of the person advancing them. Of course Milton Friedman said it much better.
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