This week our guest is Paul Martel, president of YHB Investment Advisors, Inc. and a highly respected leader in humanitarian work. He recently published a book, A Humanitarian’s Defense of Capitalism: The Paradigm of Freedom, where he shares his perspective on how capitalism enables humanitarian work and fulfills the social contract of business. I am deeply touched by Paul’s commitment to serving humanity and defending the goal of the social contract of business. His dual life as a capitalist and humanitarian offers a uniquely qualified and compelling view of why need Conscious Capitalism and conscious leadership now.
Enjoy this bonus New Year show! Paul and I spent an hour talking about the humanity of business. I invite you to listen to the whole episode because Paul brings such open compassion and caring to his work. And, you will find the time codes below useful if you want to jump to specific topics.
- 00:53 Preface: The intention of this show.
- 02:01 Intro to Paul Martel, investment advisor and humanitarian.
- 04:25 Paul talks about who influenced him, his path to becoming a humanitarian, and the creation of his foundation, Clinica FIBUSPAM, in Ecuador.
- 10:05 The dangers of thinking that socialism is the answer to the economic challenges of the U.S.
- 12:10 Why the prosperity that capitalism enables is so important to social well-being.
- 15:10 What about social good and creating a society that enables us to care for each other?
- 16:24 The threat to our social contract and our social well-being.
- 20:55 What role does freedom play in fulfilling the social contract.
- 20:42 The drawbacks of prosperity and a story of contrast from Guatemala.
- 22:27 The role of capitalism, Conscious Capitalism, and the social contract of business.
- 24:45 The Nordic model, capitalism, and the social contract of business.
- 25:28 Nordic model: A strong social contract is sustained by a “super capitalist model.” It means more freedom, not less.
- 27:43 The enticement (and trap) of socialism vs the benefits and incentive of a social paradigm of freedom
- 31:45 The social contract and the cynicism toward global business and Wall Street
- 34:08 The role of Wall Street and how it supports the social contract and prosperity
- 36:50 Capitalism supports freedom and being able to dream
- 39:54 Is there really a seat at the table for everyone? About White privilege.
- 43:27 Don’t abandon capitalism. Help it mature.
- 45:20 Action steps to defend capitalism and the social contract of business
- 48:50 Speed round!
TODAY’S GUEST: PAUL R. MARTEL
LinkedIn: Paul R. Martel
Paul Martel is the president of YHB Investment Advisors, Inc., an investment management firm that manages in excess of one billion dollars for over 600 clients. Paul has over 35 years of investment management experience. In 2010, Investment News awarded Paul the Community Leadership Award for Global Community Impact. Paul was also recognized as a Five Star Professional by Connecticut Magazine, an award given to the top professionals in the investment field.
Paul has been a leader of many humanitarian efforts. He is the founder and President of YHB Charitable Endowment, a tax-favored vehicle for managing and distributing client-directed charitable donations. He served for many years as President and Board Member of Healing the Children, NE, and in his spare time, does significant humanitarian work.
Paul has organized 14 surgical teams traveling to Ecuador, Colombia, Guatemala, and Paraguay to provide free surgical care for critically ill, needy children. In 2007, he founded CLINICA FIBUSPAM, a small hospital serving the poor in Ecuador. He also founded tax-exempt foundations here in the U.S. and in Ecuador to support the hospital.
Paul the author of two books. To the Least of These My Brothers, a collection of essays about his humanitarian work, and most recently A Humanitarian’s Defense of Capitalism: The Paradigm of Freedom. All proceeds from the sale of Paul’s recent book go to fund the Clinica FIBUSPAM.
Links Mentioned in this Show:
- YHB Investment Advisors – Founded in 1989 by Paul Martel, the firm aims to provide excellent investment management, sound advice and personalized service to individuals, families, institutions and non-profit organizations.
- CLINICA FIBUSPAM – Their mission is to deliver integrated health care and humanitarian support to children and adults of limited economic resources in Ecuador. Their services are free and are available to all regardless of race or religion. “Our patients are treated with respect and receive quality, compassionate medical care. We are dedicated to supporting the physical and social well-being of Ecuadorian families.”
- Prime Minister Lars Rasmussen’s Harvard Speech – His Excellency Lars Løkke Rasmussen, Prime Minister of Denmark addressed the John F. Kennedy Jr. Forum on a range of Nordic solutions and challenges affecting the state of Denmark. PM Rasmussen discussed the Scandinavian welfare model (the Nordic model) and also fielded questions on Denmark’s role in the current EU immigration crisis.
- The McIntosh Backpack and White Privilege – According to Peggy McIntosh, Associate Director of the Wellesley College Center for Research on Women, ‘white privilege’ is “an invisible package of unearned assets which I can count on cashing in each day, but about which I was meant to remain oblivious.”
Books mentioned in this show:
A Humanitarian’s Defense of Capitalism: The Paradigm of Freedom
(all proceeds from the sale of Paul’s book go to the Clinica FIBUSPAM)