“Let them eat cake” is a phrase we all know from high school European history class, but what about the etymology?

The phrase dates back to the 1780s, during the reign of King Louis XVI, when the people of France experienced a series of famines and crop failures that caused severe grain shortages throughout the country. Once alerted to the fact people were suffering, Marie Antoinette, the Queen at the time, is believed to have uttered those famous words – “Let them eat cake.”

So what’s the significance?

Today, it may not seem like a very important or life-changing remark, but during the days of King Louis, this simple phrase showed a blatant disregard for those living under the family’s reign. It reflected the passive approach of the royal family to their constituents and general lack of understanding of what was really happening outside of the royal walls.

While historians debate the origin of the phrase – some credit Marie and others say there are no documented reports – it does provide a glimpse into how those at the top viewed their realities.

Throughout history, there are countless examples of wrong assumptions putting people, kingdoms or companies in bad positions. Many have gone through life assuming that if they have less, someone else has more. If one assumes they only win at the expense of another, it becomes a sadly negative and vengeful landscape.

Others approach the battle as one within. “My competition is myself” might be an apt legend they live under. Challenging yourself to perform at your best, takes nothing away from your neighbors, co-workers, peers, fellow countrymen, or far off dictators.

Be it some distant banker being vilified today or the 10- year-old who beat your son or daughter in the summer swim meet, they are not the enemy anymore than you are their’s.

This all speaks to today’s dire economic environment. We are progressing down a similar path of blame for all our ills. The real estate agent who sold you your home at some previous peak, the mortgage broker who found you your loan, the bank that provided the money are all being vilified by some.

For the people of France, the blame went to Marie as the famines occurred as the French Revolution approached and the public often blamed Marie for contributing to the country’s dire financial straits due to her frivolousness and extravagant lifestyle.

For our worries today, how far back do we go? To the inventor of capitalism? The first banker?

We all take great pride in our smarts when our houses balloon in value, but do we not take some level of accountability for their decline?

Certainly some were duped – but what of the middle-class businessman who counted his home equity daily while spending little of his spare time assessing whether it made sense to have an adjustable rate mortgage?

Is it right for him to charge the castle and overthrow the king because his lot in life has been fractured? Or, should he stem the damage, sharpen his skills, put in a hard day’s work, and learn from mistakes?

By doing the latter, we take responsibility for our actions, take nothing from others and serve as positive role models for our children and grandchildren.