Originally published at: https://blog.12min.com/money-and-power-summary/
The History of Business
Money and power have always been a deadly combination.
The very beginning of businesses brought a new meaning to the term – power.
The companies have evolved: The small companies adopted a unique perspective and grew.
Who Should Read "Money and Power"? And Why?Many organizations in the new era talk about, the various factors that cause financial collapses. Businesses try to maintain that stability on the market, but that’s even harder will all the competition existing these days.
About Howard MeansHoward Means is an American born author who has written or co-written a dozen books, and he also worked at Washingtonian magazine as a senior editor. He was born in Lancaster, Pennsylvania, United States.
As an award-winning writer, Howard won two William Allen White medals as a reflection of his writing potential.
"Money and Power Summary"The moneychangers started the whole process. Even the Bible indicates that these personalities were the ancestors of modern entrepreneurs or representatives of today’s bankers. Nevertheless, to really get the old picture of moneymakers, it’s necessary to put yourself in that position.
The public didn’t like these type of people, mostly because they saw them as “stealers” or smart “thieves” who used their cleverness to influence other’s minds. History aside, people associated with economy know the cruel nature of money-flow.
Economists speak about the bad reputation that these institutions and persons have, and clearly outline the valuable services they provide. In spite of having a poor understanding of the public, bankers continue to work as present-day “moneychangers” and problem-solvers.
Societal constraints somehow connect money with banks, but in truth, capital is more than a piece of paper. The reality of investing also has been built on the back of poorness, which somehow forced the people to try and look for alternative solutions.
Significant fluctuations among regions and countries is a global problem that prevails even in the 21st century, without any signs of backing off. Destabilization among other things is also essential for growth, perhaps not on a global as it is on a personal level.
Customer’s needs went from super broad to ultra-exclusive. Every person has its own unique set of requirements that one or many firms need to meet. Historical shifts, wars, and state regulations have pushed the global economy up and down.
These changes, often perceived as unwanted, endured in communist, socialist, capitalist, and democratic societies. For example, when the Americans launched a new Revolution, democratic capitalism emerged from nowhere.
At the same time, the Industrial approach advocated for mass production and satisfying a significant portion of the market.
These two movements cross-fertilized and give a whole new meaning to the word - Power. Companies had a little choice than to pursue a full-political freedom and economic liberty that will create a prosperous society.
However, many cultures didn’t allow this process of integration to take place. Liberty and freedom are concepts that come with a price tag, and many entrepreneurs are aware of this societal issue. Corruption is the biggest culprit that opposes the idea of free society, and fair competition on the market.
This volume, based on a fact-filled and comprehensive documentary, covers different characters who reshaped the course of history and influenced many historical trends.
Howard Means merges the cinematic color perspective with a content consisted of traditional events and movements. All the details act as a helpful guide that promotes the idea of a new all-encompassing company.
Generally speaking, not much is left than to reorganize the modern life in a way that businesses will easily exploit opportunities and increase the living-standard – on a global scale.
Some professions or companies go way back, but their candle still burns. As you can see, the value is affected neither by time nor by capital. Enterprises that fought throughout decades to position themselves better, know the burden of not having enough economic support.
Enforcing restrictions by the government has always been an activity that is followed up with a dose of skepticism and distrust. The older organizations are one step ahead, due to different times they’ve been through and finally to survive in the digital age.
The revolutionary approach to business encouraged the modern companies to form or improve existing processes in an organization in order to improve profits.
From biblical stories and professions to the creation of global brands like Microsoft, Means targets all elements that are in one way or another associated with commerce. From a neutral perspective, money buys power, but it doesn’t show you how to use it.
Key Lessons from “Money and Power”1. Equal treatment in society 2. Competition is necessary for prosperity 3. Oil monopoly in the early days
Equal treatment in societyNot so long ago the businesses were managed mostly by men. It was not easy to reshape the whole economic system and remove this discrimination out of the world.
As society progressed, people realized that mutual growth relies on shared contribution.
Competition is necessary for prosperityBack in the days, the building of a railroad for the American people was an opportunity to connect the east and west.
However, many difficulties occurred along the way, because most of the capital was place down the eastern coast.
A furious competition was the recipe for overcoming this problem which led to a prosperous America.
Oil monopoly in the early daysJohn D. Rockefeller in the 1880s held almost 90% of the entire world’s entire refining capacity, which totally opposes the theory of intense competition.
According to the Rockefellers, the competition was not a well-received phenomenon because the market would get decentralized.
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“Money and Power” Quotes[bctt tweet="Great fortunes are the trailing indicator of great industries." username="get12min"]
[bctt tweet=“Capitalism wasn’t a one-way street; it was indeed possible to do good while doing well, to both profit and protect your soul.” username=“get12min”]
[bctt tweet=“Mostly, the story of business is the story of white Western males.” username=“get12min”]
[bctt tweet=“Being free to pursue political fortune almost inevitably entailed the freedom to pursue economic fortunes.” username=“get12min”]
[bctt tweet=“Throughout the last millennium, it was control that created fortunes: control over the oceans or the railroads, the highways or the airwaves.” username=“get12min”]
Our Critical ReviewAs technology progressed, firms and countries advanced parallelly, but our modern society requires a lot more from companies than seizing a technological momentum.
This book is especially applicable and useful for economists, bankers, and people in businesses.