American Business
A firm’s economic power is derived from its ability to produce material values and offer them for sale.
Unlike political power, which depends on physical force, economic power relies on voluntary choices.
A company is powerless when it fails to provide things that people want to purchase.
The only leverage the businessman has is the quality of his products and his ability to persuade.
Sometimes businesses lobby government for special privileges such as bailouts, price-supports, subsidized loans, trade protection, resource privileges, grants of monopoly, etc.
A moral business would succeed or fail on its own without any government assistance.
If a moral businessman makes a mistake, he is prepared to suffer the consequences.
If he fails, he takes the loss.
A moral businessman only profits if he satisfies the needs of people by offering better products or services or at a lower price than do others.
When practiced properly, business is a noble and virtuous pursuit.
