Like many people, I enjoy a good hamburger. My friend was recently telling me about a new chain in Ontario called Union Burger. He also turned me onto a story posted in Goderich where local businesses were actually protesting the potential introduction of Union Burger to their town. That another business would think more competition is a political issue highlights how twisted our political culture in Ontario has become.
In Ontario, we are spoon fed our freedom from various forms of government and and by those with political privilege. We have lost our collective understanding of what it means to be enterprising. Too often, we look for politics to defend our vested interests instead of competing openly in good faith. Instead of trying to be the best, some restaurants in Goderich (The Burger Bar and Goderich Grill) fear competition. The next time I’m in Goderich, I’ll make sure to avoid The Burger Bar and Goderich Grill.
Entrepreneurs commonly criticise bankers for providing no economic value. In fact, many entrepreneurs view bankers as an impediment to economic success. Entrepreneurs, especially small business owners, believe the only way to legitimately earn profits is to create value by doing work (including invention). These small business owners (who are the backbone of any well functioning economy) commonly view bankers as leaches, who suck out the resources of those legitimately engaged in productive enterprise. The small business owner typically feels like the banker is not providing any real productive value, but rather, the banker is simply manipulating numbers for the banker’s own benefit. Although I sympathise with the small business owner, the idea that bankers provide no value is far too simplistic and it reveals a lack of financial sophistication on the part of many small business owners.
At the root of the misconception many entrepreneurs have for bankers is a flawed understanding of the ways profits may be earned. I believe doing work and taking risk are both paths to profits.