It's not 1950 anymore! Most jobs in America are "knowledge work", and you the boss? a big part of your job as the boss, is to teach, is to coach. And a big part of what you have to teach, is wisdom, insights, human nature, understanding of business.

Good economy, bad economy, bad employees are dime a dozen. Good employees? Your business competitors are not only working on stealing your customers away from you, they are also working on stealing your best employees from you. You are competing against other employers to attract and keep high quality employees.

And your best employees? In this knowledge based economy, best employees know the key to their own long term well-being is their own skill set. They are hungry for knowledge, for wisdom, they want what's in your head, and they want you to make their learning experience inspirational not painful. If you refuse to teach them, if you are not effective at coaching, or if it's unpleasant to learn under you (you are a typical tyrant of a boss from 1950 LOL) they will quit and go somewhere else for the learning experience.