In the Arena
1990
Richard Nixon, Republican President
Chapter 8, "Wealth" pages 111-113
"...yet many Americans have an instinctual dislike for corporate wealth. This is in part a result of our political system, which does not permit too much power to gather in too few hands...TR, the Republican Roosevelt, was the greatest trustbuster in history, while the breakup of the telephone monopoly was begun under Jimmy Carter but vigorously executed by Ronald Reagan's Justice Department...
... The capitalist democracies chose to control the excesses ... by regulating business to protect workers' fundamental rights and interests...
...Undeniably, the salaries and bonuses some overrated CEOs receive are obscene...a profitable corporation, earning big dividends for its shareholders, adding jobs each year, paying taxes to the federal government and its community, and creating and testing new technologies, is an essential institution of a modern democracy...
...While capitalism may be driven by greed, it produces wealth, and democratic institutions help a society decide how its wealth should be used...
...It is up to business people to be constantly aware of their social responsibilities in good times so that in bad times their opportunistic critics will not be able to turn them into scapegoats for society's problems by saying they only cared about lining their own pockets...
...Admittedly, volunteer efforts alone will not solve the stubborn problems of the homeless and other disadvantaged people. But the critics overlook the fact that a goal which inspires us to devote some of our efforts to helping others makes us a better people than if we were motivated solely by what Russell Kirk has described as cosmic selfishness."
1990
Richard Nixon, Republican President
Chapter 8, "Wealth" pages 111-113
"...yet many Americans have an instinctual dislike for corporate wealth. This is in part a result of our political system, which does not permit too much power to gather in too few hands...TR, the Republican Roosevelt, was the greatest trustbuster in history, while the breakup of the telephone monopoly was begun under Jimmy Carter but vigorously executed by Ronald Reagan's Justice Department...
... The capitalist democracies chose to control the excesses ... by regulating business to protect workers' fundamental rights and interests...
...Undeniably, the salaries and bonuses some overrated CEOs receive are obscene...a profitable corporation, earning big dividends for its shareholders, adding jobs each year, paying taxes to the federal government and its community, and creating and testing new technologies, is an essential institution of a modern democracy...
...While capitalism may be driven by greed, it produces wealth, and democratic institutions help a society decide how its wealth should be used...
...It is up to business people to be constantly aware of their social responsibilities in good times so that in bad times their opportunistic critics will not be able to turn them into scapegoats for society's problems by saying they only cared about lining their own pockets...
...Admittedly, volunteer efforts alone will not solve the stubborn problems of the homeless and other disadvantaged people. But the critics overlook the fact that a goal which inspires us to devote some of our efforts to helping others makes us a better people than if we were motivated solely by what Russell Kirk has described as cosmic selfishness."
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