April Freeman Banner 2014

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."

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October 1959

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Around the world, people are struggling to throw off authoritarianism, with deeply mixed results. From Egypt to Venezuela, determined people build networks to overthrow their regimes, but as yet we have not learned to live without Leviathan. In this issue, Michael Malice and Gary Dudney discuss their glimpses inside totalitarian regimes, while Sarah Skwire and Michael Nolan look at how totalitarian regimes grind down the individual--and how individuals fight back. Plus, Jeffrey Tucker identifies a strain in libertarianism that, left unchecked, could reduce even our vibrant movement to something that is analogous to the grim aesthetic of architectural brutalism. The struggle for our lives and freedom is a struggle for beauty; it begins inside each of us.
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