Freeman

ARTICLE

Learning By Doing

OCTOBER 01, 1959 by E.F. HUTTON

Ideas made possible our nation’s growth. We are a venturesome, valor­ous, risk-taking people who backed ideas with savings.

If the labor unions would back their ideas with the money collected from their dues-paying members and, instead of striking against bus­iness, go into a business for themselves and prove that they can operate it—can run full time at all times, pay higher wages than present man­agement, have shorter hours, better working conditions, and make enough money to keep operating and pay their shareowners (dues pay­ers) a fair return on their investment—they would get a better edu­cation in the relationship of profits to jobs and job security, to the standard of living, and of productivity to wage increases.

Steel men, automobile men, coal mining men, mill owners, and hun­dreds of others have twitted unions to make good their claims to buy a company, run it, and prove they can do so better than those they now criticize and strike against. It’s wide open, and all can step in and try it. But, Mr. Unionman, don’t overlook the 52 per cent federal tax on profits.

The big unions are reported to have millions of dollars on hand. Why not buy a company, and run it, and prove that wages can be increased without setting the stage for higher inflation?

Mr. Hutton is the well-known industrialist, investment banker, and author of the column, "Think It Through."

ASSOCIATED ISSUE

October 1959

comments powered by Disqus

EMAIL UPDATES

* indicates required
Sign me up for...

CURRENT ISSUE

July/August 2014

The United States' corporate tax burden is the highest in the world, but innovators will always find a way to duck away from Uncle Sam's reach. Doug Bandow explains how those with the means are renouncing their citizenship in increasing numbers, while J. Dayne Girard describes the innovative use of freeports to shield wealth from the myriad taxes and duties imposed on it as it moves around the world. Of course the politicians brand all of these people unpatriotic, hoping you won't think too hard about the difference between the usual crony-capitalist suspects and the global creative elite that have done so much to improve our lives. In a special tech section, Joseph Diedrich, Thomas Bogle, and Matthew McCaffrey look at various ways these innovators add value to our lives--even in ways they probably never expected.
Download Free PDF

PAST ISSUES

SUBSCRIBE

RENEW YOUR SUBSCRIPTION