If there is one thing that living in the real world teaches us, it’s that conventional wisdom can often be wrong.
This holds true when dealing with history.
Your history textbooks will generally tell you that America’s 32nd President Franklin Delano Roosevelt saved America from the Great Depression.
One problem with that common historical perspective… The evidence does not bear that out.
For one, the New Deal was filled with a cornucopia of government interventions that distorted the economy and prevented a full recovery.
Some of them included:
The Agricultural Adjustment Act of 1933, which completely micromanaged the agricultural sector via heavy-handed regulation. Some of the most notorious regulations included rewards to farmers who slashed production and a government-sponsored animal slaughter program to prop up livestock prices.
The National Industrial Recovery Act of 1933 practically nationalized American industry. This legislative act gave the presidency the power to license businesses and control imports, with little regard to the economic consequences of said intervention.
The National Labor Relations Act of 1935 granted virtual monopoly powers to labor unions. As a result, established unions could then place stiff barriers in front of low-wage workers. To this day, Big Labor exerts significant influence in the political process and hurts unskilled workers.
It was clear throughout the 1930s that the public sector crowded out the private sector and kept the market from correcting itself in a timely manner.
At the Depression’s peak in 1933, 24.9% of the American workforce, roughly 12,830,000 people, were unemployed.
It was not until the US entered World War II that the US resolved its chronic unemployment problem, with most of the population now being employed to help with the war effort.
However, this came at a significant cost. Substantial resources were diverted from the productive private sector to the public sector to help with the war effort. In addition, price controls were enacted during the war years.
This resulted in numerous shortages of basic consumer goods and lower living standards for Americans throughout this period.
The US’s victory at the end of World War II and the subsequent draw-down of the war effort finally brought the economy back to normal.
By then, most labor and resources were re-allocated to the private sector, which allowed the American economy to fully recover towards the end of the 1940s.
In sum, the Great Depression/New Deal narrative we’ve been accustomed to hearing don’t tell the full story of that period. Often, this perspective gets the facts wrong.
That’s the thing about conventional wisdom these days. You should always be questioning it.
Skepticism is a healthy practice to engage in these days. There’s a lot of notions that people assume are correct, that are somewhat misleading or even flat-out wrong.
What we see with regards to popularly accepted history also applies to personal development.
You see, there’s a general perception in the general culture that if you just rely on your skills, earth-shattering success will be right around the corner.
Now, there is a nugget of truth to this.
You do need skills to be of use to other people and get your foot in the door for several opportunities.
However, to fully realize your potential, you’re going to have to do more. Skill-building, aka “the how” is only one piece of the puzzle. But it’s not enough to truly realize your ultimate goals.
That’s why George Gammon, Ken McElroy, and I created the Collective Mastermind group.
We started this group last year to break the mold and redefine what mastermind groups are all about.
You see, the average mastermind group you’ll find out there tends to be filled with lame conferences featuring speakers who just pitch their products.
Maybe just maybe… things could get interesting, and you’ll meet some washed up celebrity or weird social media influencer at this event. But that’s it.
Once you leave that mastermind conference, it dawns upon you that you got little value out of it.
You ultimately felt that it was a waste of time and money.
Naturally, you grow jaded with your entire self-development process. You might even consider just giving up altogether.
Obviously, this is not the way to go but I can empathize with people who are stuck in a rut.
But here’s the thing: They’re stagnating because of their old order thinking.
They’re thinking too much about “the how” not “the who.”
“The who” is the network of high-value contacts that play a pivotal role in growing your connections, financial resilience, and health.
These folks can make all the difference when it comes to actionable advice and their ability to open new doors for you.
And you can have access to this top-tier network if you’re accepted into the Collective Mastermind.
From February 4-6, 2022, the Collective Mastermind will be meeting at Bonita Springs, Florida.
One thing to note….This event isn’t open to everyone. The Collective Mastermind team is looking for experienced applicants who have put in the work when it comes to investing and/or building businesses.
Think you have what it takes to join the elite ranks of the Collective Mastermind?
Quickly fill out your application to join the premier mastermind group for empowered investors at the link below:
