Never afraid to be RIGHT!

Anthony W. Hager of Alexis, NC

Web: www.therightslant.com

Blog: http://anthonywhager.blogspot.com/

Whatever happened to teaching, learning and practicing the “Three R’s?” In schoolhouse terms the “Three R’s” were “reading, `riting” and `rithmetic.” Of course, that’s somewhat of a misnomer. Everyone knows that only one of the “Three R’s” actually begins with “R.”

I raise this point so the English teachers of my distant past won’t consider their efforts wasted or their work futile. That said, and as mislabeled as the classic version of the “Three R’s” may be, there exists “Three R’s” that are spelled correctly. They are essential to a capitalist, free market economy and a liberty-oriented society.

These “Three R’s” have become increasingly unpopular over the last 70 years and are now belittled or ignored outright. Yet without these basic, core principles there can be no liberty and prosperity will be determined through government decree, not according to an individual’s contribution to society. These “Three R’s” are risk, reward and responsibility.

There’s an old saying, “Nothing ventured, nothing gained.” Perhaps that’s not the technical definition of risk, but it’s a good start. Risk means to place what one has in jeopardy in order to realize greater satisfaction later on. America was built on risk takers large and small.

Our earliest settlers placed their very lives at risk to achieve a higher level of personal and religious freedom. The Founding Fathers risked their lives and fortunes to pursue independence. Pioneers braved disease, weather extremes, hostile Indian tribes and a host of other perils to seek new fortunes on the Western frontier.

Investors risk their time, monies and reputations in pursuit of invention and innovation. Risk is as intertwined with the American experience as automobiles, baseball and apple pie.

Risk naturally brings reward. The greater the risk the greater the potential reward may be, which manifests either positive or negative. Obviously, a positive reward is the desired result of risk. No one takes a chance without the possibility of reaching their desired outcome. But positive results aren’t guaranteed.

The negative reward can also be a valuable experience. Thomas Edison once said, “I have not failed. I’ve just found 10,000 ways that won’t work.” Edison took risks and his rewards in failure were many. But his rewards in success shaped our world.

Whatever the outcome, good or bad, there’s no reward without risk and no risk without reward.

The third “R” is responsibility; the most important of the three. Risk cannot be taken unless the responsibility for the reward is accepted personally. A free person cannot demand the responsibility for their risk be placed upon their neighbor. Such an attitude is a grave injustice, yet it has become the norm in modern America.

Quasi-capitalists love the positive rewards that their risks generate. But how do such “capitalists” fare in accepting responsibility when the reward for their risk is negative? Trillions of dollars