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NYSE CHAIRMAN DONALDSON SAYS ENTREPRENEURIAL SPIRIT CAN CHANGE THE WORLD, FROM THE BOTTOM UP

 NYSE CHAIRMAN DONALDSON SAYS ENTREPRENEURIAL SPIRIT
 CAN CHANGE THE WORLD, FROM THE BOTTOM UP
 PRINCETON, N.J., Feb. 7 /PRNewswire/ -- New York Stock Exchange Chairman and Chief Executive Officer William H. Donaldson today called on educators to spark entrepreneurial spirit among their students as a way of infusing them with an interest in changing the world for the better.
 "Help your students to realize that they are not destined to bury themselves in a faceless bureaucracy. They can, in fact they must, serve as the agents of change," Donaldson told a meeting of the Headmaster's Association in Princeton, N.J.
 "I am a true believer that efforts to reshape and redirect -- inspired from the top -- are doomed to failure unless there is a counterforce that springs up from the bottom. A force that arises from those prepared to have an impact on the process of change from whatever place they occupy in the organization chart. Individuals imbued with...what I choose to call the entrepreneurial spirit."
 Donaldson said that entrepreneurial spirit need not be restricted to the business world, but can lead an individual to make a difference through any field of endeavor.
 He also called for instilling in students a knowledge of the true ethics of capitalism, as opposed to stereotypes.
 "Those who interpret capitalism to mean, 'Greed is good,' misunderstand three things: greed, good and capitalism," said Donaldson, who was a founder and first dean of Yale's graduate School of Management, and was named to a tenured chair as the William S. Beinecke Professor of Management Studies.
 He offered his own definition of capitalism: the ethical pursuit of profit in a free market environment, leading to increased wealth for society.
 "It is rather ironic that while Eastern Europe and many other parts of the world are coming to see this more clearly than ever, many in this country remain cynical about a system that has nurtured us so well," Donaldson noted.
 In his remarks, Donaldson applied these themes to diverse contexts, including the economic challenges faced by the U.S. and other nations. He singled out the nation's schools as one place, in particular, where the benefits of entrepreneurialism are important.
 "The individual in our society has to change it, and that individual must start from wherever he or she is now, while making good use of whatever support is available. The key point is that those who wait for a genius to lead them or inspire them with the perfect answer will be waiting a long time."
 -0- 2/7/92
 /CONTACT: Ray Pellecchia, 212-656-2065, or Catherine Maroney, 212-656-8585, both of the New York Stock Exchange/ CO: The New York Stock Exchange; Headmaster's Association ST: New York, New Jersey IN: SU:


JT -- NY065 -- 7893 02/07/92 15:47 EST
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Publication:PR Newswire
Date:Feb 7, 1992
Words:463
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