CHAPTER NINE
The Delusion of Profits
BUSINESSMEN HABITUALLY COMPLAIN about the economic illiteracy of the public, and with good reason. The greatest threat to the free enterprise system in this country is not the hostility to business of a small, strident group, but the pervasive ignorance throughout our society in respect to both the structure of the system and its functioning.
But the same businessmen who so loudly complain about economic illiteracy are themselves the worst offenders. They don’t seem to know the first thing about profit and profitability. And what they say to each other as well as to the public inhibits both business action ...
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