Key to doing a better job meeting long term needs is broadening our
understanding of the concept of investment,,,
1) Private investment (Individual initiative)
Investments yielding relatively short run gains to individual investors
who meet consumer demand.
Traditional profit motive provides great efficiency.
2) Public investment (goal: assure opportunity to all)
Investments whose benefits are spread out over
a longer time or to many people (education, defense).
Funding collectively pooled together.
Requires a governmental authority answerable to its own people.
Public and private investment can no longer be viewed as a tradeoff. They
each feed of each other and can create a spiral of growth and development. When
they are viewed as contradictory, society faces the threat of stagnation.
A basic problem is that we have these ideologies out there which
celebrate the one and want to choke off the other.
A successful society must achieve a working balance.