This is a simple concept that you should be able to understand from the title but the $500 Millionaire always explains how important the ability to fail is in any free market system. Imagine what would happen in our society if there were not negative outcomes, punishments, or penalties associated with peoples actions. That is when ethics is thrown out the window and people would be able to do whatever they want with absolutely NO care about how it affects anyone else. This is what has started our country on a downward slope.
WARNING:THIS BLOG MAY CONTAIN SPELLING ERRORS AS WELL AS GRAMMATICAL ERRORS, IF YOU FEEL THAT YOU CAN NOT GET OVER YOUR PRETENTIOUS SELF AND GAIN ANYTHING DUE TO ERRORS, PLEASE STOP READING RIGHT NOW. IF YOU CAN OVER LOOK ERRORS, KEEP READING.
This is similar to a past post but you can see exactly what happens when we are scared to let any child fail. Children need to understand that they can fail if they do not do what is necessary to succeed. Intramural sports are scared to tell the kids that they did not win even though it is obvious that the other team scored 20 more points. We need to step into reality and understand that there are winners and there are looser. This is the only time you will ever hear the $500 Millionaire that we need to have a Equal Opportunity Act (the definition alone is judgmental) . The $500 Millionaire would LOVE to see everyone have an equal and fair opportunity to FAIL. It is impossible to give everyone an equal opportunity to succeed If we would allow everyone an equal opportunity to FAIL, the $500 Millionaire would be confident that there will be much fewer failures and much more success all through out our country.
With the ability to fail and being held responsible for our actions, companies would HAVE to be ethical (do what is right) in fear of losing both employees and customers. Politicians would have to be ethical (do what is right) in fear of loosing reelection. Employees would have to be ethical (do what is right) in order to keep their job, Students would have to be ethical (do what is right) in order to pass the class.
It is almost impossible to remove a politician who is not doing their job if they can grant wishes for the right supporters. It is almost impossible for a student to fail in school even if they do NOTHING to allow them to pass. Recently, firing an employee for inability to complete necessary tasks is not a good enough reason to let people go?!?!?! From bail out to bail out it is almost impossible for any company, as long as they are big enough, to get away with things that would never be considered ethical (what is right)
Bankruptcy is a brilliant concept which basically stops a company for getting out of control. It basically causes a company to admit defeat and re-evaluate its strategy. As well as in religion. If there was no hell, then there would be not punishment for anyone who does not live the life according to the rule of god. The $500 Millionaire does not want to see people fail but wants failure to always be a possibility. Failing is a major part of life that society is trying to get rid of. Without failure, there can be no success and with out success, would life be worth living?o bail out any company, as long as they are big enough, can not fail. Our society will not let it. Forget taxing the rich, force them to have the equal opportunity to fail…most of them will still succeed but the true “evil rich” will fail