The days stretch long and warm in the Northern Hemisphere as true American patriots proudly display the stars and stripes. Today, the brave and free, embodying duty and self-sacrifice, accept federal holiday pay yet stand firmly on their own two feet. The values of rugged individualism and unwavering independence form the core of their character.
With purpose and celebration, they gather in jubilant groups along the shore to commemorate American Independence. Freedom lovers—descendants of pioneers like Daniel Boone—come together to relish hotdogs and throw horseshoes, delighting in drinks sweetened with corn syrup and fermented grains. As the sun sets and the stars emerge, cheers erupt for the stunning display of fireworks lighting up the night sky.
This joyful occasion reaffirms that even amidst the rituals of a large government, there remains a time to celebrate the principles of self-governance. Everyone is invited—assuming their vehicles are registered, taxes are paid, and proper documentation is at hand.
Freedom. Liberty. Independence. Restricted representative governance. Sound currency. Private property rights. A humble and respected citizenry. Avoiding foreign entanglements. Navigating the Mississippi River. Classic rock. Health-conscious lifestyles.
Over the past century, these ideals have slowly faded into the background, much like the obsolescence of the horse-drawn plow. Sadly, the essence of the republic was lost long before Elvis took his last pill. The nets cast by Washington have ensnared the globe, and it seems nearly impossible to escape their tangled web.
Yet, why dampen the spirits of such a magical day with messy truths?
Instead, let’s delve into a nostalgic look back at a time not-so-distant—from before the emergence of the Department of Homeland Security, social media giants like Facebook, and omnipresent entities like Google. A time when freedom felt a bit freer and the depreciation of currency was less evident.
Creative Destruction
Political, business, and cultural turning points often reach a critical tipping point without warning. Then, a revolution swiftly dismantles the status quo. It later becomes clear that the simmering tensions had been brewing for years, perhaps decades, prior to the explosion.
In the early 1990s, Steve Rocco, a humble freestyle skater from Hermosa Beach, delivered a stunning blow to the corporate skateboard industry. Operating on a shoestring budget fueled by risky loans taken from a shark named Kirby, Rocco swiftly dismantled the leading skate companies, which had become complacent over time. Through what can be described as Joseph Schumpeter’s “gale of creative destruction,” he transformed the industry and its culture.
The major skate companies, which had thrived during the vert ramp skating boom of the late 1980s, allowed the sport to drift to heights inaccessible for a new generation of skaters. To protect their marketing investments in sponsored professionals, many of whom had fallen behind, these companies acted as gatekeepers, effectively excluding emerging talent from the professional scene.
Rocco, through innovation, tireless effort, and clever parody, revealed the elitism that had gripped the industry. In a flash, the outdated products of the old guard, along with their unappealing brands and lackluster pros, faced a steep decline in sales.
Street skating emerged as the new frontier, welcoming any kid with a board. Rocco’s company, World Industries, harnessed this shift like no other. The documentary, The Man Who Souled the World, illustrates his journey—within merely 90 minutes, you’ll grasp insights on entrepreneurship that no prestigious business school could impart.
But there’s more…
Independence Day in America Circa 2019
Rocco’s transformative impact on the skateboard industry broadened access to the sport for countless eager youths. Through partnerships and distribution deals, World Industries paved the way for many new skater-owned businesses. This opened the floodgates, unleashing a wave of energy, urgency, creativity, and youthful exuberance that unpredictably reshaped the industry.
A notable example is Plan B, founded by Mike Ternasky (RIP) in 1991, which formed under a distribution agreement with World Industries. Ternasky aimed to create a premier team, sponsoring the most talented skaters and pushing the limits of what was possible. Riders such as Matt Hensley, Rodney Mullen, Danny Way, Colin McKay, Rick Howard, Mike Carroll, and Pat Duffy rapidly advanced the sport to astounding new heights.
Plan B skaters developed and executed a range of incredible tricks. Their creativity, excellence, style, and “go big or go home” mentality were showcased on July 9, 2005. On that day, Danny Way, after suffering a serious fall during a previous attempt, successfully executed a colossal 360 air over the Great Wall of China.
It had been nearly 800 years since Genghis Khan had breached the Great Wall. But what’s the connection? What do Steve Rocco, World Industries, Danny Way, and all of this have to do with Independence Day?
In truth, this relates to American independence far more than mere hotdogs and beach beers. Here’s the crux…
The U.S. economy—and by extension the global economy—is approaching a boiling point. You can see it, feel it, and even sense it in the air.
Currently, government planners are preparing their stale strategies to implement during moments of maximum turmoil. Economic patriotism, universal basic income, modern monetary theory, trade wars, direct currency devaluation, and heightened governmental control threaten to encroach upon freedom and liberty.
However, these plans won’t remedy the impending challenges. Moreover, these central planners’ programs, while pandering to populist sentiments, will likely intensify discontent.
Thus, in the spirit of American traditions of freedom, liberty, and independence, emulate Rocco. Forge something new and in alignment with your own principles. Even if a centralized governmental system seeks to take every last dollar you earn, you could still contribute to a “gale of creative destruction” that sweeps through the established order like a Midwestern tornado.
Is this merely hopeful thinking? Perhaps.
Yet, on Independence Day in America, circa 2019, it is certainly worth aspiring towards.
Sincerely,
MN Gordon
for Economic Prism
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