"In no other industry is skin in the game as important as it is in banking." To begin honestly and up front, anything relating to stocks isn't exactly my strong point. Buying, selling, and trading stocks aren't my idea of fun. But learning more about the things I own and use on a regular basis is something I can do research on, and putting money where your mouth is is is something worth looking at.
In Ancient Rome, there was an issue with this when it came to building architectural buildings and bridges. A way to fix this problem, they placed the builders of these bridges stand and spend time under them to ensure just how much faith they had in their own work. Later on, the English saw this method and decided to take it a step further by making that engineers family stand under their bridges as well! Although this was an extremely reliable way of getting what a customer pays for, it's safe to say we have a better way of doing this: with trust, so here's why I choose to invest in JPMorgan Chase Bank.
John Maxfield writes his article on how important it is to have "skin in the game" when it comes to stocks and trades; it is even more vital when using this type of thinking with banks. So why choose Chase? In a nutshell, one of the most important things to look for when working with money is trust. A good way to ensure that is to see how much the executives of these banks trust their own money and risks; and Jamie Dimon, as far as I'm aware, has the most stocks placed into his own institution. As CEO and chairmen or Chase, there is a minimum requirement of owning at least one million shares. Being the over achiever that Dimon is, he not meets that requirement but is almost seven times that amount; see what I mean by skin in the game? The company is doing very well on the market, and due to the people running it, it seems it's on a pretty fair pace. As a customer of Chase, I have full faith that our family has made the right choice with our bank because otherwise I'd be worried if we didn't! I'm confident in my decision to invest in my stocks, not only because it has benefited to my advantage, but also because I have the trust behind it to ensure everyone has skin in the game to reap these benefits.
Adam Smith. Known for his works of "The Theory of Moral Sentiments" and "The Wealth of Nations". He helped change America's way of economic thinking along with the rest of the worlds; to boil him down to a crash course, we're going to focus on the four main ideas he is responsible for which bettered our way of thinking the long run:
1-Specialization: Modern businesses could make more profit if their workforces are divided and specialized into more little jobs for many people to excel in than one person taking a whole load of responsibilities. signs our world is so rich (example): when meeting a stranger at a party, chances are you won't understand that person's job title- logistic supply manager, packaging coordinator, communications and learning officer- all hard to understand, I know, but these mouthful titles are actually what make America so successful. Thanks, Smith.
The downsides?- people's meaning: small business= everything is available and understandable; large industrial businesses= people feel small and forget the value of their work because of the title they were given; absent- minded people fail to understand work, thus provoking yourself to question the value of your work
solution- authorities, bosses, and leaders of cooperations have a duty to their employees to validate their work and dignity, and remind them of their role and purpose of their work. sounds like snowflake garbage, but as wimpy as it sounds, happy workers, make the best effort.
2- Consumer capitalism: luxury consumerism is needed for a good society, and for us to flourish economically. having a form of ranks and classes seems unfair, but when taken into perspective with history, wealthy people will refuse to let their kin to decline and become poor, thus opening hospitals and education, benefiting everyone else around them. wealth allows societies to look after their weakest members. smith was behind the idea that consumer capitalism does more good for the poor than trying to equal everyone's rank and role to mediocracy.
capitalism is more than fulfilling our basic needs and buying things, but should also create money from goods and services that help with our individual fulfillment.
3- How to treat the rich: how you get the rich and wealthy to treat the rest of society well? keep the money and feed them the honor they want to gain. give a pretty person mirror so they can bug themselves instead of the people around them. Usually, the rich aren't greedy when it comes to money, but are instead obsessed with what others think of them (they want to be liked). So why tax them when you can give them a participation award? Doing this not only ensures their own happiness and garbage but subconsciously makes them concerned about good things a general narcissist wouldn't give a second glance to. (funding schools, hospitals, and treating workers with a decent amount of respect. Smith wisely said, "the great secret of education is to direct vanity to proper objects."
4- Educate consumers!: Big corporations are viewed as evil pits of money, who are trying to ruin our lives and take our money. These are obviously an issue, but however, we seem to gloss over the fact that we are one of the main reasons these issues are happening in the first place; the problem is with ourselves. companies are not the ones who corrupt and "destroy the world", but it is, in fact, our appetites of the world that will always crave something bigger and sweeter; businesses are merely giving us what we are asking (yet we somehow manage to throw such a fit about it). How can we fix this? By consumer education, of course! If we are taught to want better quality things and pay a respectable price for them, we are benefiting those genuine businesses along with ourselves. This is one of the reasons good capitalist societies offer you choices (like which laundry detergent you should purchase at Target) so that you are exercising your option of choice for judicious ways in the future. Smith found that it is indeed possible for capitalism to be saved by changing our thinking of the quality of the things we consume.
Adam Smith is responsible for creating this country'sway of thinking by simply changing the game. Though unfortunately unrecognized, he created a reason for our society to become just as civilized as it is profitable.
People are causing trouble over and issues that are important, but have perhaps surfaced a few years m- too early for anyone to "take action". The article "'Fight Inequality' is a Poor Rally" focuses on the issue that today's protesters are struggling keep their problems important. Right off the bat, Cowen suggests that based off of recent studies, that once economic controls are involved with the statistics, there is a reduced likelihood that the people taking about it will ever do anything about it.
The fight for equality has been a raging fire among the youth of America. I mean who wouldn't stand up for what they think is right. The rallies and protesters shook the police, communities, and our government, angering them and in response having hem fight back. But now those forces are simply not caring; ignoring them. What the protesters look for is a fight, something to try and justify their means. If nobody is noticing them, is it even a protest?
The article claims that a study on the concept of economic inequality says that, "Americans don’t mind inequality nearly as much as pundits and academics suggest." This may raise some questions. Why do people suddenly not care about inequality? Is it inequality towards them or towards other people? Because it's one thing if they do not care about the inequality thrown at them, but when they disregard the lives of others then that in itself is inequality. 
In Ancient Rome, there was an issue with this when it came to building architectural buildings and bridges. A way to fix this problem, they placed the builders of these bridges stand and spend time under them to ensure just how much faith they had in their own work. Later on, the English saw this method and decided to take it a step further by making that engineers family stand under their bridges as well! Although this was an extremely reliable way of getting what a customer pays for, it's safe to say we have a better way of doing this: with trust, so here's why I choose to invest in JPMorgan Chase Bank.
