Economics and Politics

And the responsibility business owners have to their employees

By Terry Troy

While economics and politics are usually inextricably linked, this year COVID-19 has all but destroyed that association. There are some who blame the current administration for a lack of response to the pandemic, yet there are just as many on the other side who blame interests outside the country for causing it, especially the Chinese. As a country, we have only been more divided once in our history.

Whatever the case, there is no denying the impact the coronavirus has had on our people, employment and businesses. Without it, this election would have been a cakewalk.

As a business publication, we seek journalistic integrity, not offering support to one side or the other. However, we must also recognize that our first duty is to our readership, which, of course, is pro-business.

As we head to the polls this month, we very well could determine the future direction of our country for decades to come. So the decisions we make, as executives and business owners, must be made prudently, judiciously and with malice aforethought. We must weigh whether we should control the virus first to get a handle on the economy. Or let the virus play itself out, and keep the economy moving forward. Which will benefit our country in the long term? Which will benefit our constituents in the short term? But in the end, which will benefit our businesses and our customer base?

There are no easy answers, especially this year.

What is often lost in all of this, especially on the national stage and in the national media, should be our most immediate concern as business owners and executives: those folks who have put in the long hours to help make our businesses a success.

Where do our employees fit in our decisions? We do have a social responsibility to our employees and to their families.

So when you hit the voting booth in November, make sure your decisions are based, at least in part, on the needs and wants of your employees. Where does the person you are voting for stand on their interests, whether it’s health or employment? But also keep in mind that unemployment can have just as devastating an impact on a family as the death of a loved one.

You have it in your best interests and theirs to make sure your business stays up and running. Don’t think of it as being selfish. Don’t think of it as being capitalistic. Instead, think of it as being responsible.

So who should you vote for? That decision is up to you and you alone.

Good luck, and let’s all pray for a safe and more profitable new year starting in the months ahead.

Terry Troy – Editor, Ohio Business Magazine