One of Passport to Wall Street's missions is not only to educate the public about investing and economics, but also - due to the international aspect of our activity - in a sense to bring Poland and the United States closer together and to publicize the stories of people who have decided to dedicate themselves to the educating and promotion of market-oriented values. One such person, who can share his professional experience with many others, is Jacek Spendel - President of the Freedom and Entrepreneurship Foundation and Liberty International organization. Jacek is a man of freedom and a well known figure in free market circles on both sides of the Atlantic . Jacek, specially for us on the pages of Passport to Wall Street, told us how to run a company without public support, whether or not it is worth investing in, and how to experience educational, life-changing experience in Arizona.
Piotr Popęda: Who is Jacek Spendel and where has the idea to live as a "full-time libertarian" come from?
Jacek Spendel: Good morning! Actually, I have been managing organizations of the third sector since I turned eighteen and officially became an adult (laughs). Specifically organizations with the freedom profile which spread the vision of a free society, free economy and state limited to the minimum. I have a lot of fun with it, and by the way it has been a full-time job for me for over a decade. The idea of a "full-time libertarian" derives from the combination of passion and work, which I strongly recommend to everyone.
PP: After a series of successful courses recognized all over Poland, such as the Polish-American Leadership Academy, one of your major projects became Project Arizona. This is major because there has never been anything like it on the international scale before. Tell us what it is and why our readers should seriously consider taking part in the next recruitment?
JS: Oh yes, Project Arizona is by far my favorite of all the projects I have done and I'm currently doing! It is designed to train young socio-political leaders with a libertarian spirit that draws on the ideas of classical liberalism and libertarianism. Starting in 2017, 6-8 people every year (except the last one) go to Phoenix for three months. There they take part in work internships, study at Arizona State University, experience dozens of networking meetings, and engage in voluntary work. This is an international project which involves 20- and 30-year-olds from almost all continents. They live together and "absorb" the freedom atmosphere of Arizona, a place not accidentally chosen for the project. If you have a passion for freedom, are a forward-thinking person, have a vision for your future and would like to see "how it's done in America" - be sure to apply through www.projectarizona.us. The 2022 edition is already filled, but we are slowly starting to recruit for PA 2023, which will take place from early January to late March 2023.
PP: This may be a more private question, however, the foundation run by you and Marcin Chmielowski is somewhat unique. How do you finance your activities? In Poland many businesses find their start in EU grants. Meanwhile, the Freedom and Entrepreneurship Foundation proves that it can respect taxpayers' money.
JS: I'm very willing to answer this question. Both organizations I run - Liberty International and the Freedom and Entrepreneurship Foundation - support themselves only from the money voluntarily transferred to us. These are mostly individual donor contributions, but also grants from private foundations, as well as fees paid by the participants of our projects. For instance, we do not offer any events for free. Participants pay to attend the Polish-American Leadership Academy, the Milton Friedman Freedom Convention (Miltonalia) or Project Arizona. The movies we produce are the result of targeted fundraising for this purpose. At the beginning of each of our film productions we put a note: "no taxpayer was harmed in the production of this film". It's certainly not easy to function like this, but we consider ourselves entrepreneurs of ideas. Therefore, just like other entrepreneurs, we need to find a demand for our products. I think that the ability to operate in a market environment provides you with much more independence, and also satisfaction that there are people willing to pay for what we have to offer.
PP: It can be stated that you've conquered the market of free-market education. To a large extent, your activities bring Poland and the U.S. closer together mentally - in each project one can see the seeds of this cooperation and substantive support from the overseas. We're talking about such recognized organizations as The Fund for American Studies, Foundation for Economic Education or Liberty International, which you've joined yourself. How do you evaluate these international alliances and do you think that the United States is still the cradle of freedom - or maybe this value is present only in a few, particular states?
JS: I'm a big supporter of international cooperation on many dimensions, including in terms of freedom activism. My first international event was Liberty International World Conference in Prague in 2006. I went there as a 21-year-old with some friends from the KoLiber Association and one could say that my eyes opened wide. I saw what excellent things libertarians are doing outside Poland and that in many aspects there is a possibility to cooperate. Next I went to the Liberty English Camp in Slovakia, still as a participant, but the following year I switched roles and from then on was almost always the organizer. The US is definitely a cradle for our ideas and has the convenience of actually referring to its history when referring to liberal principles. Naturally, the state is also becoming stronger there, primarily in the economic dimension, and mainly at the federal level. Indeed, there are still a few states where the "old truths" still mean a lot and they compete in terms of business attractiveness with more statist states. One of these states is Arizona, where there are still strong institutions defending this free order. We work closely with them at Project Arizona.
PP: Many people who observe you will surely say that with your experience and workshop you could get into politics and achieve something in it. So why did you choose education? Laws are changed by ruling politicians, not by academics. Is it possible to effectively influence reality in a different way than this paradigm?
JS: I heard that I should start a party plenty of times (laughs). I am a realist though, and even if I wanted it very much, I will not eliminate politics from social life. I am very critical of it, because in my opinion it triggers the worst instincts in people, and also follows the logic of a zero-sum game. But I recognize its importance. Therefore I won't say that libertarians should forget about politics and focus on other things. However, the opposite charge is usually made, that we should all focus on politics because that's where the "real decisions" are made. Following Adam Smith, I for one am a proponent of the free-market division of labor, and even within our camp we should go into the areas we're good at and that simply suit us. What's more, the very young and the unlettered shouldn't go into professional politics, as it will be extremely difficult for them to talk as equals with the mighty who helped them get elected and at the same time can give them re-election. Politics is a very difficult and unrewarding field, but of course we need smart people to do it. I chose the educational path because I am a positivist when it comes to social change, and I simply enjoy what I do. This positivist "long march" is essentially my approach, although it requires a lot of patience.
PP: The years are flying by and the number of graduates of your projects from different corners of the globe is growing. Do you feel that a significant change has taken place in their lives? After all, you're sending them to the other side of the world, where they have a chance - and here we might use this expression - to get out of their comfort zone.
JS: Keeping track of my Alumni is one of my favorite activities (laughs)! In fact, there are few moments in my job as pleasant as when I find out that one of my Graduates got a good job or was awarded. There are great stories here, both in the Polish "backyard" and on the international stage. Just to mention the interviewer! Piotr, I have to admit that I'm very proud when I see what you are doing in your hometown or in a great industry title such as Passport to Wall Street!
From the foreign alumni, I will mention Jorge from Venezuela, a 2019 Arizona Project graduate, who after completing the project obtained an asylum in the US and got a job.... at the above-mentioned The Fund for American Studies. He has been flying all over the US, visiting university campuses and giving lectures on how his country has slid towards socialism and how it is not an attractive path at all, despite being so popular among the younger generation of Americans. Other alumni include the co-founder of the Center for Capitalism (and the website objectivism.pl), an entrepreneur in the cryptocurrency industry, and the current director of the Polish-American Leadership Academy.
PP: This question should not be missed in the pages of Passport. How do you perceive what is happening on the financial markets and what do you invest in? In a free market environment, a lot of time is spent on alternative investments, i.e. cryptocurrencies or metals, and even fiat money is approached with caution, especially in the era of widespread printing.
JS: I'm a big believer in taking a long-term approach, dividing my wallets into several categories (from the "black hole" ones to the medium-term ones to the risky ones) and generally looking at investing as a psychological challenge. I think it's a good idea to invest in both crypto and precious metals, but also in stocks (e.g. through ETFs). I wouldn't go into one select "all in" category, nor do I encourage short-term "gaming", as this is a higher level of driving from which only a few will emerge unscathed. I have been investing seriously (although still amateur) only for 1.5 years, I read a lot about it and watch interesting materials. It is definitely not worth keeping cash on deposit, on the account or under the mattress - for a known reason: the galloping inflation. So I definitely recommend getting interested in the topic, but before you invest your first money, please read something or at least watch some valuable videos on the Internet.
PP: Has the pandemic affected your business in any way?
JS: It has, of course. Instead of going to cool conferences, I had to fire up ZOOM a lot more often (laughs)! It affected us from the very beginning: for example, we had to finish Project Arizona a month earlier than planned, we lost plane tickets, some sponsors had to withdraw due to worsening financial situations in their organizations. Liberty International World Conference was supposed to be held in August 2020, but we postponed it until August 2021. Project Arizona 2021 was only held online, and that's only a part of the story that happened to us. The pandemic and the restrictions associated with it have hit us hard. I really hope this is the end of the restrictions.
PP: What to wish you in your future activities, and why should we see each other at Miltonalia - Milton Friedman Legacy Day?
JS: We should see each other at Miltonalia because it is the best event of the year, cool people come together and talk about cool ideas (laughs)! And what do you wish for me? That I still have the passion and power to change reality and "infect" people around me with it. Combined with health and family well-being it will give me a recipe for happiness!
Interview conducted by Piotr Popęda for Passport to Wallstreet
Translated by Justyna Piątek
Proofreading: Kevin Carter