Funeral business is capitalism at its best

You will seldom see me inflict my political beliefs into Funeral Director Daily but it is hard at this time of the 2020 election cycle not to watch television and get some type of information on the political happenings.  And, I won’t go into candidates or political parties, but the current divisiveness between capitalism and socialism has had me thinking about the funeral business and its origin and evolution.

When I think of capitalism I think of the process that a person institutes to give him the opportunity to raise his standard in society.  At its essence it is the process of coming up with a product or service that the consumer public will purchase if you can offer it at a price that they feel is fair.

If it is a product that nobody wants or needs, then you will fail.  If it is a product that is too expensive for the consumer to think it has value, you will fail.  However, if you come up with a product or service that the consumer believes has value and you can produce that product or service at a price the consumer believes is fair, then you have a chance for success.

The history of funeral services in America and the ability of a person to raise his standard comes from that simple concept. I think of my own great-grandfather who arrived in Minnesota shortly after the Civil War trained as a cabinet maker.  In 1872 we got our start in the “death care” business when families, who had had a death, in the community came to him and asked if he could build coffins.  I assume that it became part of his cabinet business and he was able to provide the products these consumers asked for at a price they were willing to pay.

As consumers saw value in the ability to see the deceased, embalming took hold and then the consumer saw value in moving the visitation from their own homes and businesses dedicated to the art of funeral services were built for this.  And, at each step along the way, a capitalist saw the opportunity to better his standard in life if his process would be accepted and purchased by the consumer.

And, these capitalists and entrepreneurs took risks everyday.  Think of the person who operated the livery stable and sold buggy whips at the time that Henry Ford had a better idea for transportation.  Ford didn’t have the first idea for an automobile, but he was the first one who could build it at a price the consumer was willing to pay.  The livery stable owner had tough decisions to make — do I invest in a Ford dealership or is that a passing fad and I should use my capital to improve my buggy whips?  I’m guessing that some made the wrong decisions and turned prosperous businesses into closed businesses.

The same is true for funeral home owners — do I invest in cremation equipment or is that a passing fad. . . and now, do I invest in alkaline hydrolysis. . . . are my full services becoming too expensive for the consumers value?  And, it isn’t only for funeral homes. . .what about their suppliers. . .what products should they offer?  Are they the right ones?  Can they offer them at a price that will be competitive with foreign competitors on an open market?  These are questions that death care capitalist owners have to answer every day . . and their livelihood depends on what they do.  They have incredible risk involved in their decisions.

So, like other industries, funeral service will evolve into what the consumer public wants and is willing to pay for.  And, those who create those products that the public wants and is willing to pay for, and have risked to do so, should be rewarded.  What’s wrong with that?

I think it is fair to have differences of opinions on what our tax rates should be and how America spends the tax revenue that it brings in.  However, I think it is bad thinking if we think that America can be sustained without the opportunity for individual advancement that capitalism brings to society.

As long as we provide fair wage and hour laws, and have a safety net for our most vulnerable, capitalism is the fuel that feeds America.  I just have a hard time trying to understand those that want to undermine that proven process.

And when you really look at it, death care and the funeral profession, and its history, is an absolute barometer of how capitalism should work.

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