You may recognize those famous words from one of the most successful shows in TV history, Dragnet. Or you may recognize those words from the first chapter of Objective Prosperity , emphasizing facts rather than emotions and data rather than opinions when making decisions to improve outcomes in life. You might question how my obsession with facts and data occurred and ask how to evaluate which facts are authentic and dependable.
When I started the doctoral program at Northwestern University, I already had more than a decade of experience in business, including working in a clothing store, an IGA grocery, multiple positions in broadcast and print media, and a summer managing a photography business in Wyoming. With a B.S. and a M.S. in Business, there were also few business courses I had not taken, so my doctoral program at Northwestern concentrated on research methodology.
One of my doctoral courses involved multiple experiments focused on learning and memory, which is critically important in understanding effective advertising. It was taught by a President of the American Psychological Association, Dr. Ben Underwood, author of the leading textbook Experimental Psychology. I left that course with a lasting skepticism of any theories not proven in a laboratory, whether a clinical lab or the laboratory of life, as I described principles about successful entrepreneurs in Saving America: How Garage Entrepreneurs Build Small Firms into Large Fortunes.
I learned not to place trust in anyone advocating an opinion not supported by data. That is a useful lesson currently when someone discusses socialism or capitalism. That is the theme of Chapter 9 in Objective Prosperity; just the facts about results from either system, and history is rich with facts about both capitalism and socialism. The next time you hear someone advocating for either system, stop them and say, “just the facts, please”. And if you are not sure of the facts about both, you might want to re-read Chapter 9 of Objective Prosperity, co-authored with Dr. Roger Bailey, Associate Dean at Fisher College of Business.
