Monday, July 20, 2009

"Powerful GM" - John Stossel's Take

"GM has/had no armies with which it can invade other companies. It had no power for force anyone to work there. It couldn’t force anyone to buy GM cars.

Your average two-bit government bureaucrat has more 'power.' He can send people with guns to take your money (tax collection). He can lock you up, seize your property, tell you what you cannot do on your property, summon you to court, and so on. Government has the monopoly on power...."

Business, to survive, must be a supplicant: it must work hard to please its customers, constantly adapt to meet their changing tastes, beg them to even visit the showroom to consider a purchase. Business is good. There are a few cheaters—I made a career reporting on them—but they are exceptions. Overwhelmingly, business serves us very well." - John Stossel