The thing some people can never have ..... Enough

Enough.

I was recently reminded of the famous anecdote of author Joseph Heller (creator ofCatch-22) at a billionaire's party. When told their host made more in a day than the book earned in its lifetime, Heller replied, "Yes, but I have something he will never have....... Enough".

This post could go a number of ways. It can become an anti capitalism rant, or have an anti-entrepreneurial spirit vibe. It could veer to the left in support of socialism. It is not about any of those things.

I am an enthusiastic supporter of the profit motive, the need to improve things and the rewards that come with such things. Investment risk deserves a full and proper reward. Of course. Entrepreneurs create wealth for everyone via job generation, via wealth generation which in turn generates tax revenues for governments etc etc. These are broadly great things and forces for good. However, they often need moral, ethical and, at least in some form financial or economic regulation.

But, actually this piece is about unfettered greed. For those who can never have enough. It's that thing that drives on the people who do have enough, and who have probably achieved great things, and who can live comfortably and appropriately or even flagrantly extravegantly, should they so choose, for the rest of their lives (and for their families beyond that). It's the thing that makes them continue to create value and wealth; but not always through greatness but from inflicting bad outcomes on others; from job losses, or job relocations, through rationalisations or off-shoring or by simply betraying the loyalty that their teams of people have shown in their support over time, or betraying the trust of stakeholders who have invested their wealth. Now that is greed that crosses a line. An ethical line.

We can , and often do, blame the finance guys - CFO's who see greatness in more and more investment driving more and more returns and in either taking or denying increasing risk whilst devauing the one thing that brought a business so much success in the first place.... it's human capital ...... It's people. That's the capitial that doesn't sit on the balance sheet - the capital that can be written off or destroyed with little to no implications. Even guilt-free in some cases.

Now you might think that I should get off my high horse and let business continue. Correct in many cases. We all need to stay competitive.

But remember, there are plenty of examples where greed blindsided common sense and good ethical judgement (think the collapse of many banking/finance institutions on 2008 when low value security back investment products were marketed, sold and carried at values way beyond those traditionally dictated by the poor quality of transactions that underpinned them) because greed overtook self regulation. The bankers of the City, in la Borse and in Wall Street couldnt get enough. In doing so they destroyed institutions, livelihoods, jobs and value.

We are now staring down the barrel of a threatened wave of job losses as AI promises to replace the role of many hard working folk - or at least provides a convincing cover-story to plunge the lives and families of loyal team members into financial jeopody as reorganisations, off shoring to lower cost economies (and where jobs can be more easily disposed of). More so than ever before, in all of this turmoil, the moral compass of owners, investors, leaders has never been more important.

We will rely more on those that have "enough" to act responsiblly, to care for their people and to self regulate. That's a hard ask.

We all reach a point, if we are lucky, were we are happy or even just resigned to our lot. When the future is not always about material things - rather its about building relationships, enjoying each other's company, doing good, helping others, being kind, or just getting by. And, if you reach this point then you are truly lucky - many never do. But if at this point your continued accumulation of wealth is at someone else's expense then it's time to look in the mirror and re-evaluate your priorities.

Yes I know...... business never stands still. That to stop is to lose ground and invite the great buzzwords from the management word jumble to fall on your heads; losing ground, shrinking market share, losing competitive advantage. However, just because others are doing it, this does not validate doing those things that you should not do. This is not a call to return to a bygone era. It's a call to re-establish good strong guiding values and ethics and to re-establish self regulation. Because ....There is another way.

Enjoy what you have. Celebrate what you have achieved. be happy. Be content. look after others. Do the right things..... and you will achieve something that you have failed to do so far..... you will have enough.

Note: The above picture shows a great book by John C Bogle which discusses this topic in greater detail and in a much more compelling and eloquent way, and might even be seen as required reading for those thinking about their own, their family's or their economy's future. Enjoy.