Quote ... unquote."The great virtue of free enterprise is that it forces existing businesses to meet the test of the market continuously, to produce products that meet consumer demands at lowest cost, or else be driven from the market. It is a profit-and-loss system. Naturally, existing businesses generally prefer to keep out competitors in other ways. That is why the business community, despite its rhetoric, has so often been a major enemy of truly free enterprise." Economist Milton Friedman Noun 1. Milton Friedman - United States economist noted as a proponent of monetarism and for his opposition to government intervention in the economy (born in 1912) Friedman "The activities undertaken by business have clearly brought social benefits as well as costs. Similarly, however, there are two sides to a contract--and business must acknowledge that in return for the ability to function it is subject to rules and constraints ... More than two centuries ago, Rousseau's social contract helped to seed the idea among political leaders that they must serve the public good, lest their own legitimacy be threatened. The CEOs of today's big corporations should take the opportunity to restate and reinforce their own social contracts in order to hero secure, for the long term, the invested billions of their shareholders." Ian Davis
Ian Davis , worldwide managing director of McKinsey & Company, The Economist, May 2005 "Instead of deriding what they want to do, they do everything and do none of it well." Gerald C. Meyers Gerald C. Meyers is an industrialist, author, speaker, former Chairman of American Motors Corporation (AMC), active business consultant, and an expert in the field of corporate governance and crisis management in business. , former chief of American Motors American Motors Corporation (AMC) was an American automobile company formed on January 14 1954 by the merger of the Nash-Kelvinator Corporation and the Hudson Motor Car Company. At the time, it was the largest corporate merger in U.S. history, valued at US$198 million ($1. Corp. talking about General Motors and quoted by BusinessWeek "GM is primarily a case study in how the rest of American capitalism might have turned out were it not for the burst of creative destruction, starling starling, any of a group of originally Old World birds that have become distributed worldwide. Starlings were brought to New York in 1890; since then the common starling (Sturnus vulgaris) has spread throughout North America. in the 1980s, that transformed many industries and ultimately made America home to many of the world's best companies. In a free-market economy free-market economy n → economía de libre mercado free-market economy n → économie f de marché free-market economy n where the shareholder is king, GM is a depressing counter example: bureaucratic, union-dominated, increasingly losing out to leaner, better-run companies, especially from abroad, and paralyzed par·a·lyze tr.v. par·a·lyzed, par·a·lyz·ing, par·a·lyz·es 1. To affect with paralysis; cause to be paralytic. 2. To make unable to move or act: paralyzed by fear. by laws and contracts that stop management doing the necessary dirty work--sacking workers, cutting wages to market levels, and trimming its portfolio of vehicle brands." The Economist, April 2006 "The people who think that the power of big business is enormous are mistaken ... since big business depends entirely on the patronage of those who buy its products: the biggest enterprise loses its power and its influence when it loses its customers." Economist Ludwig von Mises Ludwig Heinrich Edler von Mises (September 29, 1881 – October 10, 1973) (pronounced [ˈluːtvɪç fɔn ˈmiːzəs] was a notable economist and a major influence on the modern libertarian movement. (1881-1973) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion