I watched with incredulity as businessmen ran to the…
““I watched with incredulity as businessmen ran to the government in every crisis, whining for handouts or protection from the very competition that has made this system so productive. I saw Texas ranchers, hit by drought, demanding government-guaranteed loans; giant milk cooperatives lobbying for higher price supports; major airlines fighting deregulation to preserve their monopoly status; giant companies like Lockheed seeking federal assistance to rescue them from sheer inefficiency; bankers, like David Rockefeller, demanding government bailouts to protect them from their ill-conceived investments; network executives, like William Paley of CBS, fighting to preserve regulatory restrictions and to block the emergence of competitive cable and pay TV. And always, such gentlemen proclaimed their devotion to free enterprise and their opposition to the arbitrary intervention into our economic life by the state. Except, of course, for their own case, which was always unique and which was justified by their immense concern for the public interest.””
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
Business leaders demand government aid while claiming free‑market values, exposing hypocrisy.
In simple terms: Businesses ask for help yet claim independence.
Key Takeaway
Question the consistency of free‑market rhetoric.
Themes
politics
economics
hypocrisy
government intervention
Mood
skeptical
analytical
Type
political
economic
critical
When to use this quote
- policy debates
- economic crises
- corporate lobbying
Key Concepts
public interest
regulation
corporate power
Questions to Reflect On
- Why do firms seek bailouts?
- What are the costs of intervention?
A Different Perspective
Such demands can undermine market discipline.