An examination of what it means to be "self-made."

Vernon Hiller challenges what it means to be self made and explores the benefits gained from the sweat equity of previous generations.

By: Vernon Hiller for Sankarsingh-Gonsalves Productions

Photo by Paolo Bendandi on Unsplash

If ever there was someone who could claim to be self-made, it is Warren Buffett. Having come from humble middle-class beginnings, Buffett showed his entrepreneurial spirit from an early age. Now older and wiser, Buffett is keenly aware of the many benefits that enabled and contributed to his financial success. He once wrote in his giving pledge that “my wealth has come from a combination of living in America, some lucky genes, and compound interest… My being male and white also removed huge obstacles that a majority of Americans then faced….and…my luck was accentuated by my living in a market system that sometimes produces distorted results.” Contrary to claiming he did it on his own, Buffet continues: “I’ve worked in an economy that rewards someone who saves the lives of others on a battlefield with a medal, rewards a great teacher with thank-you notes from parents, but rewards those who can detect the mispricing of securities with sums reaching into the billions. In short, fate’s distribution of long straws is wildly capricious.”

Given Mr. Buffett’s outlook, one might surmise that he views the term “self-made” as somewhat of a misnomer, as the adoption of such a title would completely disregard all the benefits and opportunities he so clearly summarized. The opposing view to his perspective emphasizes relentless focus and personal grit as the sole reason for one's success. Such individuals take pride in the belief that they pulled themselves up by their bootstraps, did it all on their own, and never accepted any handouts or help from anyone. Some, like former British Prime Minister Margaret Thatcher have even gone so far as to state that “poverty is a personality defect.”

Not surprisingly, people with this perspective express resentment about having their taxes directed towards supporting public health care or those at the bottom of the socio-economic ladder. They argue that it’s unfair for them to be forced to support those unable or unwilling to make something of themselves the same way that they did. For them, the world would be better served if everyone was left to struggle on their own and learn the same tough lessons they learned about the benefits of hard work and sacrifice. It’s a dog-eat-dog, survival-of-the-fittest world out there, and the sooner people learn how to survive it, the better off they and everyone else will be.

Rubbish!

Like Mr. Buffett, I believe this world view has one major flaw. It completely disregards the fact that everything any of us have, was leveraged on the backs of previous generations. Our access to tax supported public education and health care didn’t just happen. It was initially put in place by people who suggested, voted for, and implemented a system supported by a community of tax-paying citizens for the benefit of all.

Having survived two world wars, it was natural that many western countries acquiesced to expanding supportive benefits to their citizenry. Their shared sense of loss had drawn them together, and they wanted to ensure that all would now have access to quality health care and education. The sacrifices they and others made to establish the institutions, and build the infrastructure from which we all now benefit were many. Canada, and the system within which we now operate was built up over the course of decades and centuries. Our educational and health care systems, public transportation, paved roads and sewer systems, our electrical grids and utilities, university research centres, airports, economy, social welfare, legal and governmental institutions, banking industry, and our security, and food distribution networks were all built on the backs of past community members. We are all now able to exploit these resources thanks to the hard work, planning, and tacit understanding that all should benefit in their own way based on personal needs.

Canadians once understood that the price of belonging to a community with all its benefits meant making certain sacrifices. The alternative, living completely independent of it all became unimaginable. However, over time we have become so comfortable with this way of life that we now take it for granted. We stopped appreciating all that it offers. Imagine if it all just suddenly disappeared.

This socio-economic system depends largely on a certain degree of balance. While those who reap its benefits may contribute more tax dollars to public health care, education and social welfare programs, one could argue that these people also benefit more from laws that protect their property rights and guarantee their ability to accumulate unlimited amounts of wealth. They are also generally able to make better use of airports, roads and the judicial system in ways that benefit them more than the less fortunate who can’t afford to fly, drive or hire a lawyer to make use of such publicly funded institutions.

The ability to benefit from such things goes both ways. All the money held by banks, mutual funds and other financial institutions was born from the labour of countless workers who saved and invested their earnings over decades and lifetimes. By leveraging our annual salaries, we now have access to this money through loans - often sums many times greater than we would otherwise ever be able to save. Again, all of this capital has been built on the backs of other people.

Those of us who have been fortunate enough to thrive in this society, owe a great deal to past generations. Sometimes it can be easy to forget that wealth is a product generated by vast amounts of effort put forward by everyone who preceded us. That is not to say we shouldn’t feel proud of ourselves when we overcome an obstacle or achieve a previously intimidating goal. Getting through life is hard, and making a good one for yourself even harder. Remembering all those who helped make our successes even possible, keeps us grounded, develops gratitude, and puts our success in perspective.

People are not poor because of a personality defect. There are myriad factors that contribute to their situation, not the least of which is being born into it and having their ambitions and sense of self-worth defined by how others see them. Despite what we may hear touted by successful entrepreneurs, neighbours or colleagues, no one is self-made.

About the author: Vernon Hiller is a decorated District Chief of Operations with the Toronto Fire Services and has served the city for over 36 years. He is a Board member with LEADR - a charitable non-profit organization dedicated to providing literacy tutoring for adults in Durham Region. - Having struggled with ADHD as a child, Vernon is passionate about helping others discover the potential that hides within them.