Is Education A Waste?


Take this excerpt from the book Human Action by Ludwig von Mises:

“In order to succeed in business a man does not need a degree from a school of business administration. These schools train the subalterns for routine jobs. They certainly do not train entrepreneurs. An entrepreneur cannot be trained…. No special education is required for such a display of keen judgement, foresight, and energy. The most unsuccessful businessmen were often uneducated when measured by the scholastic standards of the teaching profession. But they were equal to their social functions of adjusting production to the most urgent demand. Because of these merits the consumers chose them for business leadership.”

Think of all the successful businessmen in the United States. We often laugh at the stories of famous billionaires who do not have a college degree. Bill Gates, Henry Ford, and John D. Rockefeller to name a few. So then why is it that, as a society, we continue to send children to school after school after school if the true success stories are born from those who have no formal education?

Well, the debate would be that the above men are just outliers. But the truth is they are not. Take for example, my mother and father, they never achieved anything past a high school diploma and now they are more successful than many of their peers with college degrees.

The truth is that the only place you can spend your money, in the United States, tax-free is on education. At the same time, millions of dollars in aid, loans, and scholarships are also being pumped into the system. And for what? So that the future entrepreneurs can be droned into mid-management?

The only advantage that an education can gain you after high school is getting you into an area of profession where the degree is mandatory. No degree is mandatory in most start-up businesses, so I would urge those to reconsider. Careers with some of the most unlikely places like fast food or retail sales can actually lead to very fruitful careers. Imagine putting in 4-5 years in with one of those companies versus a university that you are paying. Something tells me that in those 4-5 years you will be making more than you would with a general liberal arts degree.

And one thing to keep in mind as you roam the halls with the thousands of others who just like you are searching in a university for your career that just like with the housing bubble the government will continuing to subsidize education until the values hit rock bottom…


Do we need automobiles to be manufactured in the U.S.?

Since Henry Ford made the first automotive affordable to everyone, we as Americans use him as a pure golden entrepreneur. He is what a true entrepreneur does. He takes a certain item and makes it easy for everyone else to incorporate it into their daily life. A modern day version of this is Bill Gates and Microsoft.

Henry Ford, as messed up politically as he was, lived the American dream. He was Depression proof. The only time that he found trouble was then he wouldn’t offer anything new. His famous quote was that you could have the Ford Model T in any color that you want as long as it was black. Other car companies with their own entrepreneurship saw this as an opening and offered different colors and variations. This is how the market works, a consumer demands something the consumer gets something. Henry Ford soon learned his lesson and created the Model A.

Fast forward to today, the United States car industry as a whole is in major trouble. The government is considering a bailout to save them. Even though Henry Ford was a true believer in “corporate welfarism” and the socialist/fascist tendencies of Hitler, he never received a dime from the government. He innovated and brought a new competitive model to the forefront. He knew if he did this he would fail.

Bailing out the automotive industry in the United States is not an argument that our economy would collapse without them. It is an argument to save the American dream that Henry Ford created. This is false. The American dream is about innovation and competition. You make a product that everyone wants and the sky is your limit. The current automotive industry has not made what a lot of people want. They have not offered the best affordable quality car. Other countries are beating them by far and it is finally wearing on them.

If we want these companies to truly be the entrepreneurial American dream genius it once was, we must make them innovate on their own. When you give government funds to one company (who are domestic) and not to their others (which are foreign), you distort the market.

These companies will not innovate, they will continue to suck from the government. Nothing is better than free money. That is exactly what we are offering them. In fact, we are rewarding them for not creating a competitive product in the market. We are telling Toyota, Honda, and others that they are being too efficient.

What the automotive industry in America needs to do is innovate or die. This is what Henry Ford faced and this is what they should face today. This will bring a re-rise to Ford.

Is it possible that this will not happen? Absolutely, but they should not be treated different than any other industry in America. If you make poor decisions, you must fail. If there is a market and a possibility for a affordable efficient quality American car. Someone will come along and make it like GM and Chrysler did before. If their isn’t then we should use those resources and man power to produce something else great.

This is how the free market works and it is not a bad thing. It is the reason why these companies ever existed at all. The fact that these companies are holding their hands out to the government and taxpayers for help instead of providing them a quality good is a disgrace to the American Dream.


Capitalism makes Fascists productive…

ford-nazi-medal F.A. Hayek in his book “Road to Serfdom” lays out the idea of how the worst get on top. It is important to note that those who thirst for power, through specialization, are sometimes the best at using faulty institutions to take power. When they get in power, they can effect and hurt more people more effectively than they could in a better institutional state as in the United States.

I will be the first to say that FDR and Adolf Hitler both had many like policies when it came to the economy. It is obvious that, even though it hurt us a lot, FDR did not hurt the country as much as Hitler hurt his. This can be thanked to Capitalism and what institutions that have been derived from our Capitalistic structure.

The picture you see here is Henry Ford receiving the Grand Cross of the German Eagle from Adolf Hitler’s Third Reich. Benito Mussolini also received this award the first year Hitler created it. It has also been claimed that Hitler had a life size picture of Henry Ford in his office.

Is it true that Ford and Hitler were friends and that Ford was anti-Semitic? Yes. Is it true that Ford revolutionized the automobile industry and made the car more affordable for Americans? Yes.

What was the difference? Under Capitalism in order for you to gain power, you had to make something that consumers wanted. Under Fascism if you wanted power, you took it. This is comparable to free trade fostering peace. Ford couldn’t use his power to kill people like Hitler did, because he would be killing his buyers.

Capitalism fosters peace, while big government kills. Government has been the largest murderer in all of history. No individual on their own has a monopoly of violence, but governments do by definition.


Published in: on May 20, 2008 at 3:09 am  Leave a Comment  
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