You believe, then, that government regulation
of industry is for the common good of all! Why? Because regulation, within the bounds of reason,
discourages the greedy and the selfish individuals from seeking monopolies, and protects the
public against unfair practices in business. Just as there must be unbiased umpires in
athletics who see that the rules of the game are observed for the benefit of all the players,
there must also be an unbiased governmental umpire who will see that the sound rules of
industry are carried out for the benefit of all. Every well-managed business has executives
who see to it that all individuals work together in a spirit of team-work. These executives serve as the umpires who
coordinate all factors essential for the successful operation of the business. Their sense of fairness and their wisdom determine
the degree of success the business enjoys.

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One thought on “Regulation, Within The Bounds Of Reason – Andrew Carnegie”

  1. O'dear, O'dear, it sounded so good up until here. 0:18. In a free market greedy monopolies can only happen when customers are pleased. Apples Iphone was such an example. We do know that government are monopolies.

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