Caroline Coyle

English 285-001-Summer 1
June 28, 2012
The Corporation and Modern Society: Crises of Capitalism
It’s a Wonderful Life – Trust, Respect and Personal Responsibility in Business

We tend to think of the past with nostalgia. The stories of our grandparents about simpler times when there was trust and respect, when families lived and stayed together, doors could be left unlocked, shopkeepers and businesses knew their customers. Some grandparents lived through the early 20th century untouched by the Great Depression. However, others struggled against forces that they did not understand. The banks and businesses that they had trusted had “failed” and they were suddenly without jobs or homes. Most Americans did not have any idea what had happened to the banks or how a bank could “fail”. With only newspapers and limited radio to rely on for information, they felt abandoned by the institutions they had trusted. The film It’s a Wonderful Life addresses the impact that a loss of trust has on a community and equally important, the failure of big business to respect those they serve. Frank Capra recognized that his film would be more than “good versus evil” in the form of George Bailey versus Mr. Potter. The citizens of Bedford Falls represented every small town in America where the lives of working class people centered on cooperation, sharing equity, fairness, and justice. They had a perception of trust and respect built on these values in which business and friendship went hand in hand. Capra shows us that the economic culture of Bedford Falls is dependent on the social culture. Everyone knows everyone and we are introduced to the characters who all share honesty, reliability and a sense of duty. The foundation of the town is built on these all-American virtues and even the name of the financial institution, Building and Loan, gives the sense of investment in the town. Through this personal institution, the citizens are able to own their own homes and be self-sufficient. This contrasts with Mr. Potter’s bank, that takes away the self-sufficiency and replaces it with “bank owned”. As noted in the handout The Corporation and the Struggle between Democracy and Economic Power, “this is how people still frame the conflict between citizens capacity to control their own lives versus the powers of those who control the economy.” However, we soon learn that the foundation of the town is not as solid as it seems. Despite the best intentions of the Building and Loan, the fortunes of the town come crashing down with the death of George’s father and the mistake of Uncle Billy. The trust is broken and the suffering of the “real” world is suddenly part of Bedford Falls. The “real” world also intrudes in the form of Mr. Henry Potter, characterized as the “meanest and richest” man in town. Potter represents the impersonal businessmen, a capitalist and a predator, who although already wealthy beyond need, wants to destroy the Building and Loan in order to “own the town”. He has no respect for the citizens of Bedford Falls or for Mr. Bailey. As a member of the Board of Directors of the Building and Loan, Potter questions Mr. Bailey’s defense of his customers and his lack of business sense in foreclosing on mortgages. His question to Mr. Bailey “Are you running a business or a charity ward?” is at the center of Capra’s philosophy about the rights of the “little man”. Despite his view of Potter as a “money-grubbing buzzard”, George does not share his father’s ideals or understand the importance their business. The creation of trust and respect is why Mr. Bailey fights on telling George that the Building and Loan helps men get their own homes. Potter wants to take that away from the citizens, denying them their right to freedom and choice. The death of Mr. Bailey brings on more criticism from Potter, who notes that he was not a businessman and that the company was always a losing proposition. Capra also uses this opportunity to show the true level of disdain that big business has for the working class. After insulting Mr. Bailey’s business policies, Potter declares that the Building and Loan only produced “a discontented, lazy rabble instead of a thrifty working class”. He sums up his philosophy of greed and intolerance by saying that Mr. Bailey filled the heads of the townspeople with dreams instead of forcing them to accept the financial truth. George finally sees the true nature of Potter that Mr. Bailey had been fighting against. He defends his father’s practices of honesty, respect and trust that made all citizens better. George’s speech also defends the workingman of Bedford Falls, arguing that “the rabble” do all the work and should be able to “work and pay and live and die in a couple of decent rooms and a bath”. Capra’s defense of the rights of the workingman is summed up when George says that his father believed in those he served, “People were human beings to him, but to you, they’re cattle.” He concludes by saying that his father died a “much richer man than you’ll ever be.” George has said what anyone who has ever been hostage to an evil bank, wanted to say and to believe: that a man’s good deeds make him rich. However, Capra was also a realist, and he knew that actions had to go along with ideals. George is now committed to saving the Building and Loan by forfeiting his ambitions and taking up the cause of his father. The social consciousness and sense of duty of the working class would be fighting against the soulless rich and powerful. Capra uses George to show how one man can inspire others to join together in service. The power of the townspeople to control their own destiny is suddenly stopped by the unethical actions of Mr. Potter. The fight against big business oppression is not fair when Uncle Peter loses the deposit and Potter sees his chance to take over. When the townspeople lose faith and make a run on the Building and Loan, George and his wife, Mary sacrifice their future by giving their wedding money to the “get-me-by-funds”. The citizens demonstrate their lack of greed, by only taking what they need. The Building and Loan becomes a shared corporation as the citizens/investors pool their resources to keep the business open. Bedford Falls has put their trust, not just in George’s ability, but also in each other. The creation of wealth is in their control, as long as they band together. Throughout the film, George rises and falls with the fortunes of his community. Unlike Potter and big business, who has no connection to customers, George and the people of Bedford Falls are equal partners. Without George, the citizens fall into misery and the town becomes “Pottersville” a place of greed and selfishness. In turn, George needs the support of Bedford Falls in keeping Potter from succeeding. When everyone comes together to get the funds and keep George out of jail, the financial success of George is tied to the success of the town. In It’s a Wonderful Life, Capra shows that righteous individuals can earn trust and respect. The people of Bedford Falls recognized that George was not a perfect individual, he was flawed and constantly challenged by his desire to leave town and pursue his own interests. Capra uses George’s journey of self-discovery to warn that it is the responsibility of citizens and business is to do the right thing even when tempted. Without the devotion of George to his town and of the town to George, the predatory capitalism of Potter would win. Trust, respect and responsibility to each other would be outweighed by greed and self-interest and stock dividends would be more important than people. Capra’s work is shadowed by the greed and failure of the Great Depression, when business failed to protect its customers. It is why he wanted to show an America where business/capitalism can co-exist with the needs of its customers. The well being of small town Bedford Falls is dependent on the commitment of both George and its citizens to put the needs of society above the individual. Although George and the town of Bedford Falls triumph over greed, Capra does not show Potter or his fate. Potter does not repent or change his attitudes about “the rabble”. Capra wanted his film to be a "celebration of the lives and dreams of America's ordinary citizens," who conduct their lives on a regular basis with warmth, honesty, and integrity."
He succeeded even more than he could have imagined, the core values of It’s a Wonderful Life show that even with trust, respect and personal responsibility, we can still fall victim to the greed of big business if we forget the lessons of the past.

Word Count: 1452

Bibliography

Carney, Ray, American Vision: The Films of Frank Capra. Hanover, NH: Wesleyn

University Press, 1986. Print.

Gunter, Matthew C. The Capra Touch: A Study of the Director’s Hollywood Classics and

War Documentaries, 1934-1945. North Carolina: MacFarland & Co, 2012. Print.

Word Count: 1452