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Stewart's version of "What's good for GM, is good for America"
He makes mostly valid points in my view but...... "a country is nothing more than a multiple of businesses" ..... I guess people who don't own businesses don't count in the Stewart calculus...... may be one of the secrets of his success.
Latest Butch Stewart press release published as news in the Observer:
Governments should help, not hinder businesses, says Stewart
By Al Edwards
Friday, April 11, 2008
Chairman of the Jamaica Observer, Gordon 'Butch' Stewart, has reiterated that a country is nothing more than a multiple of businesses and that the role of government is to facilitate businesses, not hinder them.
STEWART. I believe that everyone deserves a chance to go into business, roll the dice and do the things that will help the development of Jamaica
Speaking at last week's Jamaica Observer Business Leader Awards held at the Jamaica Pegasus Hotel, Stewart said that the government should in effect serve as a watchdog and regulator to ensure that aberrant behaviour and foul practices do not prevail.
He noted that socialist governments have a penchant for taking a heavy-handed approach to the business sector which only serves to frustrate and restrict entrepreneurs.
"There are a lot of governments that don't realise that they are in charge of policies. All these social-minded governments that go into business but in fact take business out of the hands of the entrepreneurs are going to lose and fail because their job is to regulate."
Stewart is not alone in his sentiments, nor is it just applicable to Jamaica. People the world over have lost faith in politics, because they no longer know what governments are good for. Governments the world over have over the last 30 years withdrawn from running big state companies whether it be utilities, telecommunications or energy, leaving it to corporations to define the business realm. Overregulated or under-regulated by government, corporations set the terms of engagement themselves.
Back in 2003, Sir Howard Davies, outgoing chairman of Britain's Financial Services Authority, delivered a parting shot at government policy makers who were trying to introduce more price controls on the insurance industry while many companies were battling to stay solvent.
"I do not think we should be product designers nor do I personally believe in price controls. It is difficult to find evidence from other industries that price controls are good for consumers. I am totally clear that I cannot be responsible for both prudential regulation and price control regulation," said Sir Howard.
The former Soviet Union epitomised socialism, and the demise of social government there has heralded a slew of uber capitalists who now number among the world's top billionaires and are driving a much improved economy.
"Russia needs to guarantee the rule of law and keep government out of business in order to guarantee future prosperity," said one of Russia's leading financiers, Boris Jordan, speaking at a Reuters Russia Investment Summit last year.
Boris Jordan advised on the country's first privatisations in the 1990s. He now runs a US$2 billion private equity and advisory firm called the Sputnik Group.
"There isn't a country in the world where business can compete with the government. The government has to stimulate business and stay out of the competition of business and unfortunately we are seeing a tendency lately in Russia where we have seen the government enter the business arena to such an extent that it's become a competitor and therefore in my opinion probably a brake on the development of large-scale investment," said Jordan.
The business community of Jamaica has long bemoaned the preponderance of red tape, a government that does not trust the business sector, a convoluted tax system and the sheer difficulty it takes to run a business in Jamaica.
The new Jamaica Labour Party (JLP) has vowed to create a "business-friendly environment," one that will facilitate the private sector, not hinder it.
Jamaica's Minister of Industry, Investments and Commerce Karl Samuda has continually proclaimed that the present government is devoutly committed to reducing stifling red tape and enhancing a more business-friendly environment.
"I don't think that there is any single aspect of development that can be more impeding than the question of red tape and bureaucracy. At a time when the question of competitiveness has to occupy our thoughts in a very real way, this is the time that we must act.
"It is no longer enough to simply talk about it, but it must be manifestly clear that we intend to do something about it," said Samuda earlier this year at a round-table discussion on competitiveness held at the Jamaica Pegasus.
He further added that Jamaica couldn't be comforted by unfavourable statistics on the country's competitiveness.
Returning to the theme of competitiveness, Stewart said: "To the degree that business is good, is to the extent the country does well. To the degree that businesses do badly is to the extent that the country does badly. So if you want to see Jamaica soar and do better, it is going to happen through the businesses that make up this country.
"President John (F) Kennedy told the people of the United States of America that reducing taxes, which he planned to do, would afford the country not only business development but better tax collections. Every government that has in a smart way reduced taxes has benefited from the development and the success of the country for which they are in charge of policies."
Stewart also acknowledged the importance of family businesses and the role they play in boosting economies. He recalled Diana Stewart, (a Business Leader nominee together with her husband Richard Stewart) telling an invited gathering at a Jamaica Observer Luncheon that 50 per cent of the United States' Gross Domestic Product (GDP) was made up of family businesses and that 60 per cent of employment was provided by family-run businesses.
"It is entrepreneurship and the development of businesses that creates employment, that eliminates and drives away poverty and allows a country to be economically successful so that the quality of life of its people not only improves, but they get an opportunity that they never had before through building a business.
"I believe that everyone deserves a chance to go into business, roll the dice and do the things that will help the development of Jamaica," said Stewart.
He further added that for too long in Jamaica, making a profit was regarded as a sin. He said that for some time now people have informed him that they went into business out of love or passion, which he agrees with to an extent because there hasn't been a successful person who didn't have a passion or love for what that person was doing.
"But if you don't make a profit your passion won't last long," he continued to rapturous applause, adding that "the smaller the profit is, the weaker the people that make up that organisation."
Stewart capped off his wide-ranging address by highlighting the fact that Jamaicans possess immense entrepreneurial instincts, but pleaded with the Government to institute the appropriate framework to allow the nation's great business talent to flourish.
He makes mostly valid points in my view but...... "a country is nothing more than a multiple of businesses" ..... I guess people who don't own businesses don't count in the Stewart calculus...... may be one of the secrets of his success.
Latest Butch Stewart press release published as news in the Observer:
Governments should help, not hinder businesses, says Stewart
By Al Edwards
Friday, April 11, 2008
Chairman of the Jamaica Observer, Gordon 'Butch' Stewart, has reiterated that a country is nothing more than a multiple of businesses and that the role of government is to facilitate businesses, not hinder them.
STEWART. I believe that everyone deserves a chance to go into business, roll the dice and do the things that will help the development of Jamaica
Speaking at last week's Jamaica Observer Business Leader Awards held at the Jamaica Pegasus Hotel, Stewart said that the government should in effect serve as a watchdog and regulator to ensure that aberrant behaviour and foul practices do not prevail.
He noted that socialist governments have a penchant for taking a heavy-handed approach to the business sector which only serves to frustrate and restrict entrepreneurs.
"There are a lot of governments that don't realise that they are in charge of policies. All these social-minded governments that go into business but in fact take business out of the hands of the entrepreneurs are going to lose and fail because their job is to regulate."
Stewart is not alone in his sentiments, nor is it just applicable to Jamaica. People the world over have lost faith in politics, because they no longer know what governments are good for. Governments the world over have over the last 30 years withdrawn from running big state companies whether it be utilities, telecommunications or energy, leaving it to corporations to define the business realm. Overregulated or under-regulated by government, corporations set the terms of engagement themselves.
Back in 2003, Sir Howard Davies, outgoing chairman of Britain's Financial Services Authority, delivered a parting shot at government policy makers who were trying to introduce more price controls on the insurance industry while many companies were battling to stay solvent.
"I do not think we should be product designers nor do I personally believe in price controls. It is difficult to find evidence from other industries that price controls are good for consumers. I am totally clear that I cannot be responsible for both prudential regulation and price control regulation," said Sir Howard.
The former Soviet Union epitomised socialism, and the demise of social government there has heralded a slew of uber capitalists who now number among the world's top billionaires and are driving a much improved economy.
"Russia needs to guarantee the rule of law and keep government out of business in order to guarantee future prosperity," said one of Russia's leading financiers, Boris Jordan, speaking at a Reuters Russia Investment Summit last year.
Boris Jordan advised on the country's first privatisations in the 1990s. He now runs a US$2 billion private equity and advisory firm called the Sputnik Group.
"There isn't a country in the world where business can compete with the government. The government has to stimulate business and stay out of the competition of business and unfortunately we are seeing a tendency lately in Russia where we have seen the government enter the business arena to such an extent that it's become a competitor and therefore in my opinion probably a brake on the development of large-scale investment," said Jordan.
The business community of Jamaica has long bemoaned the preponderance of red tape, a government that does not trust the business sector, a convoluted tax system and the sheer difficulty it takes to run a business in Jamaica.
The new Jamaica Labour Party (JLP) has vowed to create a "business-friendly environment," one that will facilitate the private sector, not hinder it.
Jamaica's Minister of Industry, Investments and Commerce Karl Samuda has continually proclaimed that the present government is devoutly committed to reducing stifling red tape and enhancing a more business-friendly environment.
"I don't think that there is any single aspect of development that can be more impeding than the question of red tape and bureaucracy. At a time when the question of competitiveness has to occupy our thoughts in a very real way, this is the time that we must act.
"It is no longer enough to simply talk about it, but it must be manifestly clear that we intend to do something about it," said Samuda earlier this year at a round-table discussion on competitiveness held at the Jamaica Pegasus.
He further added that Jamaica couldn't be comforted by unfavourable statistics on the country's competitiveness.
Returning to the theme of competitiveness, Stewart said: "To the degree that business is good, is to the extent the country does well. To the degree that businesses do badly is to the extent that the country does badly. So if you want to see Jamaica soar and do better, it is going to happen through the businesses that make up this country.
"President John (F) Kennedy told the people of the United States of America that reducing taxes, which he planned to do, would afford the country not only business development but better tax collections. Every government that has in a smart way reduced taxes has benefited from the development and the success of the country for which they are in charge of policies."
Stewart also acknowledged the importance of family businesses and the role they play in boosting economies. He recalled Diana Stewart, (a Business Leader nominee together with her husband Richard Stewart) telling an invited gathering at a Jamaica Observer Luncheon that 50 per cent of the United States' Gross Domestic Product (GDP) was made up of family businesses and that 60 per cent of employment was provided by family-run businesses.
"It is entrepreneurship and the development of businesses that creates employment, that eliminates and drives away poverty and allows a country to be economically successful so that the quality of life of its people not only improves, but they get an opportunity that they never had before through building a business.
"I believe that everyone deserves a chance to go into business, roll the dice and do the things that will help the development of Jamaica," said Stewart.
He further added that for too long in Jamaica, making a profit was regarded as a sin. He said that for some time now people have informed him that they went into business out of love or passion, which he agrees with to an extent because there hasn't been a successful person who didn't have a passion or love for what that person was doing.
"But if you don't make a profit your passion won't last long," he continued to rapturous applause, adding that "the smaller the profit is, the weaker the people that make up that organisation."
Stewart capped off his wide-ranging address by highlighting the fact that Jamaicans possess immense entrepreneurial instincts, but pleaded with the Government to institute the appropriate framework to allow the nation's great business talent to flourish.
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