Article/Liang Haiming, columnist of Sina Financial Opinion Leader Column (WeChat official account kopleader)
The reason for making a comparison between Rockefeller and Trump is that in the growth period of the American economy, two generations of entrepreneurs have shown considerable differences in their ways of doing things, means of doing business, and especially political and economic ideas with the change of the times. Today, these differences are reflected in Trump's ruling policy.
The Similarities and Differences between Rockefeller and Trump The death of David Rockefeller, the oldest member of the Rockefeller family, has aroused widespread concern from people around the world. For the famous Rockefeller family, In the United States in the last century, there was an interesting saying that the Democratic Party belonged to the Morgan family, while the Republican Party belonged to the Rockefeller family. The relationship between the Republican Party and the Rockefeller family is not the subject of this article, but the similarities and differences between President Trump, a Republican, and David Rockefeller, the patriarch of the Rockefeller family, reflect the different values of two generations of American entrepreneurs, which is worth studying.
In life Compared with Trump's luxury, high profile and golden personality, the "rich second generation" David Rockefeller is undoubtedly more simple and low-key. Although he has huge wealth control power, he does not smoke, drink, play cards or go to the dance hall. His life is simple. In terms of politics, Trump is undoubtedly very progressive. He has expressed his intention to run for the presidency of the United States several times and finally fulfilled his long cherished wish. As early as 1979, Carter, the then President of the United States, invited David Rockefeller to take the posts of Secretary of the Treasury and Chairman of the Federal Reserve, and was declined.
But in the diplomatic field Compared with Trump's "low-key" business days, David Rockefeller is much more high-profile. David Rockefeller claimed to be the "ambassador without responsibility" of the United States. During his tenure as the chairman of Chase Bank, he visited dozens of countries, including China, to assist the U.S. government in mediating as a business leader. On the one hand, this can establish private relations with senior foreign governments, on the other hand, it can establish its own image as an international business leader, and it can also bring new international business and economic benefits to Chase Bank. For example, after the founding of New China, Chase Bank became the first American bank to establish financial relations with China, The Chinese Mission to the United Nations and the China Liaison Office in the United States also opened bank accounts in Chase Bank.
This "ambassador without scope of responsibility" of the United States, because of his enthusiasm for foreign affairs, extensive international exchange experience, and broad international vision, benefits both countries and individuals, and can often achieve more at one stroke. In contrast, Trump was more "in business" before he entered politics, focusing on personal economic interests.
But the biggest difference between Trump and David Rockefeller lies in their different economic ideas. No matter as a developer or as the owner of the White House, Trump undoubtedly takes "results oriented" as his principle and interests first as his way of doing things. However, David Rockefeller, a doctor from Harvard University who was born in an economic discipline, obviously has more ideas and foresight.
David Rockefeller studied under Joseph Schumpeter of Harvard University, who is known as the originator of "innovation theory", and Friedrich August von Hayek, the Nobel Prize winner in economics for his pioneering research on monetary policy and business cycle, who adhered to free market capitalism.
What more people don't know is that David Rockefeller and Paul A Samuelson, a leading contemporary economist and Nobel laureate in economics, are classmates. They once took the course of Joseph Schumpeter together. Paul Samuelson's score is A, and David Rockefeller's score is also good, winning A -.
Under the imperceptible influence of teachers and classmates, as well as the influence of family culture, David Rockefeller emphasized in his doctoral thesis "Unused resources and economic waste" that businessmen's decisions, in addition to pursuing profits, should also have an impact on their workers and the wider society in addition to the impact on the profit and loss statement and income statement. In his autobiography Memoirs, he emphasized that "profit motivation is the criterion of achievement, but personal goals are formed through the society, and these goals are meaningful and valuable only when they meet and reflect the needs and goals of the society."
David Rockefeller has been practicing the value of "doing good to the world" for decades. He is famous for his wealth and also for his wealth sharing, which has benefited millions of people around the world and his family.
Of course, they are not the same. They are shrewd businessmen and know how to take advantage of opportunities. For example, Rockefeller once donated land in New York for the United Nations to build its headquarters, which seems to be a "loss". However, after the United Nations headquarters was completed, the price of land held by the Rockefeller family and the value of skyscrapers in the surrounding areas were greatly increased, resulting in huge economic benefits.
Trump did not let up much. He made the east lobby of Trump Building located at the Fifth Avenue and East 56th Street in Manhattan, New York public and open, demonstrating the grand demeanor of expanding service to New York citizens and giving back to the society, thus winning the volume award of the twenty floors of Trump Building given by the New York City Government. This "business" It's very cost-effective in Manhattan, where every inch of land is worth every inch of money.
The reason for making a comparison between Rockefeller and Trump is that in the growth period of the American economy, two generations of entrepreneurs have shown considerable differences in their ways of doing things, means of doing business, and especially political and economic ideas with the change of the times. Today, these differences are reflected in Trump's ruling policy.
(The author of this article introduces: President and Chief Economist of the Silk Road Zhigu Research Institute, academic member of Pangu Think Tank, and recent author of the "Belt and Road" Economics)
