Tuesday, March 6, 2012

Big Ditch or a Big Idea?

New York Governor DeWitt Clinton predicted that a canal connecting the Hudson River with the Great Lakes could improve the economy of his state.
He was thought to be mad. After all, the cost of the project equaled one percent of the entire country’s gross domestic product (an amount roughly equivalent today to more than $146 billion). The endeavor — which came to be the Erie Canal — also required moving a volume of earth and rock equal to more than three times the volume of the Great Pyramid in Egypt. When the federal government declined to help, Clinton managed to build the canal entirely through state funds. His foresight resulted in a series of fortunes that eventually led to the establishment of New York as the financial capital of the world. It also ushered in the American belief that we could complete big projects, whether it was building the Brooklyn Bridge, digging the Panama Canal, or putting a man on the moon.
This story reminds us not only to think big, but also to think generations ahead. It is a reminder to put our time and efforts into things of value and not simply for the moment. Who do you think is ahead -- the person who charges a Slurpee on a credit card or who puts spare money into an IRA?

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