Letter to the Editor By: Frank Apicella
With all due respect to Princeton and his prior government experience, Professor Blinder’s analysis lacks vision.
It misses the leadership mark.
Most great Presidents have had leadership qualities irrespective of whether they perfected them in the private or public sector or the military. Many have had significant experience in numerous areas (private/ government / military sectors).
Furthermore it is certainly not a pejorative for a president to have among their close advisers people who can relate directly to the struggles of entrepreneurs and business leaders who work hard to build their businesses in a fair and honest manner – the way most Americans do – creating jobs and value for their stakeholders – including employees. Indeed good business leaders are not ‘single-mindedly’ focused on the bottom line. Rather long term value creation – including responding and adapting to changing economic conditions is paramount. Such a leader knows the importance of and works hard to build into their formula for success the happiness and satisfaction of their employees – i.e., one of their ‘core constituencies’.
To wit not only has there been an obvious lack of private sector (and / or government) leadership experience among the current administration but a definite disdain for it. This approach tends to nullify creativity and entrepreneurship which have long been the hallmarks of U.S. economic success; i.e., job growth and wealth creation.
Furthermore the lack of leadership in the current administration is a clarion call to usher in citizen leaders – ideally those from private and / or government sectors – e.g., proven CEO’s / governors.
The mantra(s); lead, follow or get out of the way; and …if you are not part of the solution you are part of the problem come to mind.
Let’s hope that whomever is elected president will truly lead; uniting the country and harnessing the juggernaut that has always been the creative and entrepreneurial power of our economy. Businesses are currently stymied in the face of the fiscal cliff. In lieu of the ‘blame game’ let’s get our house in order so that we can unleash our juggernaut of economic power – creativity and entrepreneurship – let’s do that as the “UNITED” States of America!
Frank X. Apicella
Adjunct Associate Professor of Corporate Finance
New York University – Polytechnic Institute
Please note that the above are individual comments and do not necessarily reflect the views of New York University’s Polytechnic Institute