Secretary's Speech

Commerce Secretary Carlos Gutierrez Remarks at 2006 Commencement Ceremonies, McDonough School of Business, Georgetown University
Washington, D.C.

Thank you for that kind introduction, Dean Daly.

Let me begin by congratulating the graduates and their families. It has taken sacrifices from all of you to achieve the life-changing accomplishment of a Georgetown education.

I'm proud to be here today at an institution of higher learning that's at the forefront of changes taking place in the global economy. The McDonough School and Georgetown University, through their embrace of the world economy, are powerful assets for our country and our economy.

The U.S. system of business education is today recognized around the world as a competitive advantage in the global marketplace. And the McDonough School is contributing to that reputation by training leaders in every field of commerce.

As men and women serving in business, you will play an indispensable role in creating economic growth and expanding prosperity for our country. You are entering the most international marketplace the world has ever known.

Look at the numbers:

• In 2000, there were 65 Internet users per 1,000 people. By 2004, the number had more than doubled to 139.
• Last year, the United States received more than 49 million visitors from throughout the world. And nearly a quarter of overseas visitors came here to conduct business.
• Total world trade in goods and services accounted for 28 percent of global GDP in 2005.

The economic playing field is changing. It's becoming more multicultural and multinational. And it's going be as important for you to feel at home in New Delhi as in New York City. So be curious about other cultures. Be worldly. Learn a second or third language. Make yourself an active member of the international community. Gain the sophistication of world citizens.

The worst thing a society can do in this day and age is to isolate itself from the rest of the world physically and culturally.

One of America's great assets is our diversity. We've been blessed with constant levels of immigration throughout our history. We have welcomed people from all over the world who came in search of a better life and a shot at the American dream.

Once again, we are engaged in a major debate about immigration. In fact, I believe that immigration is the domestic social issue of our time.

In his address to the nation on Monday, the President presented his vision of comprehensive immigration reform that protects our people, upholds our laws and makes our nation proud.

Ironically, many countries today such as Japan, China, Germany and the United Kingdom have demographic problems because of aging and declining populations. Unlike other nations, we can avoid these problems and build a vibrant, diverse country partly because of the contributions made by immigration.

There isn't another country in the world that has understood the value of immigration more than the United States. The wisdom of the vision that President Bush laid out is that it recognizes and strengthens our unique American advantage of immigration and assimilation.

As future leaders, you need to be prepared for a multicultural world. Over the course of my career, I worked on four continents for a company that sold products in 160 countries.

So be suspicious of any proposal that suggests that we can isolate ourselves from the rest of the world or protect our jobs through legislation.

In 1930, Congress passed the Smoot-Hawley tariff designed to protect American jobs by cutting imports in half. The tariff cut imports in half; but it also cut exports in half. Unemployment skyrocketed up to 25 percent, and the Great Depression was deepened and extended.

We learned a great lesson: The only way to protect jobs is to compete, to invest and to welcome investment. Those principles have made the American economy the fastest growing of any major industrialized nation in the world.

Last year, our economy grew at 3.5 percent. That was faster than Japan, more than twice as fast as France, and more than three times as fast as Germany. Our national unemployment rate has fallen to 4.7 percent, lower than the average of any decade since the 1950s. Compare that to the 9.1 percent unemployment rate in France , the 8.7 percent rate in Germany, and the 8.4 percent in the EU25.

We are competing with the rest of the world, and we are doing it successfully.

You will all learn in business that there is no substitute for results.

In the end, real leadership is not about how long someone can stay in power, or lofty-sounding slogans: real leadership is about delivering results for the people you lead.

In the boardroom, and now in the Cabinet room, I've had the opportunity to observe great leaders in action. The real great ones, the ones who stand out, all had two common traits.

First, they all had a will to lead. Great leaders enjoy the challenge, the demands, the pressure of leadership. It's a risky business. You ask people to follow. You don't want to let them down. You want to show them that they were right in following you.

And it's a lonely business. When things are rough, when everyone's wondering whether the roof's going to crash, everyone is waiting for the leader to show the way.

I found that great leaders never pass the buck. They confront problems when they see them. They make the tough decisions. It almost becomes a matter of honor. If you see a problem, and you've been chosen to be the leader, then it's your responsibility to face up to it and to fix it.

Second--and this is critical--great leaders also believe in something bigger than themselves. People will always notice, whether you're looking out for yourself, or if you're trying to serve a greater good.

If people see a leader looking out for his or her best interest only, then they won't want to follow. They're looking for someone who is willing to serve the greater good. Leaders believe in a cause. And they believe in doing good for those they serve.

Today, you're graduating with a degree from one of the most distinguished institutions in the country.

Go forward with a bold vision of a multinational world of vast and growing opportunities. Go with full confidence in your ability to compete and succeed. And, most important, go with the faith and the commitment to make your world, your country and your society a better place.

May God bless you, and may God bless America.