[Guide to the Market Economy] We Need Optimism

“There is optimism in the old saying, ‘Life is like the old man at the frontier losing his horse.’

Great entrepreneurs, too, overcame crises and achieved innovation through optimism.”

There is a saying, “Life is like the old man at the frontier losing his horse.” Literally translated, it means that the affairs of life are like the horse of an old man living on the outskirts. Why, then, are the affairs of life compared to the horse of an old man at the frontier? The following anecdote has long been handed down.

The Origin of “Saeongjima”

Long ago, an old man lived in a rural village. One day, a horse he treasured suddenly disappeared without a trace. Most people would have been beside themselves, frantically running in every direction to look for it, but the old man was different. As if nothing had happened, he quietly went about his business. After some time had passed, the sound of a horse neighing came from outside his house.

“Neigh! Neigh!”

When the old man went outside, he saw that the missing horse had returned, bringing a young foal with it. When the villagers learned what had happened, they made a great fuss, saying how fortunate it was that one horse had become two.

“You must be delighted, sir! Just sitting still, and now you have two horses instead of one. Ho ho!”

But the old man shook his head with a dark expression.

“It may look that way on the surface, but in truth it is not necessarily such a good thing.”

The villagers were bewildered and could not understand, but the old man said nothing more and kept his mouth firmly shut. After another long stretch of time, the foal grew well and had by then become almost fully mature.

He Did Not Grieve Even Though His Son Was Injured

One day, the old man’s son rode the young horse out of the village. But then, what should happen? While galloping along in high spirits, he was thrown from the horse. Fortunately, the old man’s son survived, but his leg was broken, leaving him lame. News of this quickly spread through the village, and the villagers came to offer the old man their sympathy in sorrowful voices.

“How heartbroken you must be that your son has been injured.”

“It is all right. Although my son has indeed been hurt, this may not necessarily be something to grieve over.”

The old man spoke calmly as he looked at his son’s injured leg. The villagers tilted their heads in puzzlement, saying they simply could not understand his composure.

About a year after that, a great war broke out, and young men across the country were forcibly conscripted. The old man’s village was no exception. Parents whose grown sons were suddenly taken away to the battlefield wept as though the sky itself had collapsed. Only the old man was an exception. Because his son had already injured his leg and could not walk properly, he was exempted from conscription, and thanks to that he was able to escape the flames of war.

Now the meaning of “Life is like the old man at the frontier losing his horse” should be clear. As people live their lives, all kinds of things happen in constantly changing ways. For that reason, one cannot predict fortune and misfortune in life. What appears to be good fortune at first may spiral into unimaginable disaster, and the reverse may also be true. Therefore, whether one faces good fortune or crisis, it is necessary to respond with flexibility, minimize bad outcomes, and do one’s utmost to bring about good ones. In particular, people are more likely to lose heart when they experience bad things than when they encounter good ones. Thus, the worse things become, the more important it is not to despair or give up in the face of the immediate crisis, but instead to look further ahead and maintain a positive mindset that steadies oneself. Only then can one overcome a crisis, seize new opportunities, and move toward a future of hope and progress. Did not Winston Churchill, the former British prime minister, say as much?

A Pessimist Sees Only Risk

“A pessimist sees danger in every opportunity; an optimist sees opportunity in every crisis.”

The great entrepreneurs of history were all optimists. No matter how severe the hardships and crises that confronted them, they broke through them with optimism and determination, and in the end achieved innovation.

◆ Please remember

A pessimist sees danger in every opportunity; an optimist sees opportunity in every crisis. The great entrepreneurs of history were all optimists.

Sung-no Choi, President, Center for Free Enterprise (CFE)

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Original title: [시장경제 길라잡이] 낙관론은 필요하다

Author: Sung-no Choi

Date: 2019-08-12

Source: https://www.cfe.org/bbs/bbsDetail.php?cid=column&pn=13&idx=20424