As our generations progress, we have seen the first generation construct, second grow the establishments and third benefit from the rewards. It is therefore important to mention the Chinese ideology that true success is measured after the third generation.
We should then focus on what it was that fueled the first generation to build. It was the hunger and need to provide for themselves and their families, as well as taking care of their dependents older and younger. They had no choice but to succeed. The second was motivated by the aspiration of wealth. They were no longer responsible for their previous generations and was seen as a more self motivated success.
How can we then motivate a third generation that has never had the hunger and has lived under the already implemented growth their parents created?
Is it by limiting them and separating their parents' success from their own, by blinding them of the wealth they will one day inherit?
Or instilling in them a motivation beyond their own growth?
Needless to say, necessity is the mother of invention. Without intending to express any political inclination, our generation can feel that hunger with our current situation.
As we approach the fiscal cliff, we will be taught a new discipline, the idea that we are responsible for our own self-sustenance. We cannot release that load to the government or to our extension of credit, but to our own efforts. I think by facing that crude reality we will learn a valuable lesson. We will see what the true value of our own work is. Seeing contraction may help the American public realize that we are no longer going to be saved from our misery by our wealthy government but we must face the consequences.
Life is the best replacement to a formal education. The only difference is that in life one learns by means of his mistakes while in formal education it is done through theory. The situation we are most likely going to face will be the result of our mistakes. These will teach us that we are responsible for our missteps and one day these will catch up to us even when we think a strong government will have our back. We need to reinstall the hunger that the men who built America had, because rebuilding will take a much greater effort.
The surviving generation will regain the incentive that the first generation had. The hunger to create. The only difference will be that they will have to fight to defend the now deteriorating legacy of the past two generations. That which they thought would be there infinitely will depend on their own efforts to survive.
If we fail to teach our kids, life will take a parental role. This is what we are seeing play out in our current economy and it is the price we have to pay for our lack of responsibility. Let's hope that the results do not end up as bad as expected.