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The Catcher's mitt

jeremy blatch

Monday, 24 April 2017, 12:50

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In the Long Run, mused Maynard Keynes, we are all dead, or, as someone else once said, Dont go through life with a catchers mitt on both hands; throw something back. The author of that line is unknown but we can assume that he knew something about baseball and the cut and thrust of business and the storms of life. In the consumer society of the developed world in which we live, the lifestyle we enjoy is largely shaped by the extent to which we buy and sell.

A market without anything to sell will be just as ineffective as a market full of merchandise with no one to buy. When we have real financial wealth, we are able to realise our dreams. Thats one of the reasons for aspiring to wealth and the independence it brings.

Success in anything comes at a price and business is no exception. The ability to be disciplined and to persevere no matter what, is possibly the single greatest attribute to be a success. As Calvin Coolidge put it, Nothing in the world can take the place of persistence. Talent will not. Nothing is more common than unsuccessful men and women with talent. Genius will not. Unrewarded genius is almost a proverb. Education will not. The world is full of educated derelicts. Persistence and determination alone are omnipotent.

But perhaps there is another price which is not obvious until it hurts. The price of integrity. The lack of ability for individual companies and institutions to police themselves has led to a plethora of regulatory bodies for professions and businesses. We have created a blame and shame culture in which so often we prefer to abrogate responsibility and seek litigation, rather than facing up to the challenge ourselves. Integrity, perhaps, is best summed up as acting in a responsible, honest and fair way, no matter what the cost to the individual or company.

Philanthropy, no longer the preserve of the ultra rich and famous, makes a significant contribution to society, aiding education, research and science from which we all have benefited in some way. Many of the wealthy have historically helped the poor and the vulnerable. We know that charity begins at home.

The stock market is the barometer of the economy, and the economy is driven by business. A powerhouse that can make a real difference by making a positive contribution to the society in which we all find ourselves.

Working with integrity, within that society, is perhaps not just about the way we treat our employees, colleagues and competitors but also about how we use the wealth that we create.

Whilst financial wealth will mean different things to different people, having more than we need gives us an opportunity to make a difference for others, however small we may think the contribution is.

Taking off the catchers mitt and throwing something back is at the heart of charitable giving and philanthropy, and in doing so it helps the underprivileged and most vulnerable in society. For it is more blessed to give than to receive. After all, in the long run, we are all dead!

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