“ If ever a competitor who by good luck has plenty of money does break into the wider market, then the trust has to buy him out, paying three or four times what the business is worth. ”
Woodrow Wilson, The New Freedom (1913). copy citation
| Author | Woodrow Wilson |
|---|---|
| Source | The New Freedom |
| Topic | luck money |
| Date | 1913 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/14811/14811-h/14811-h.htm |
Context
“for they can sell at a loss in your market because they are selling at a profit everywhere else, and they can recoup the losses by which they beat you by the profits which they make in fields where they have beaten other fellows and put them out. If ever a competitor who by good luck has plenty of money does break into the wider market, then the trust has to buy him out, paying three or four times what the business is worth. Following such a purchase it has got to pay the interest on the price it has paid for the business, and it has got to tax the whole people of the United States, in order to pay the interest on what it borrowed to do that, or on the stocks and bonds it issued to do it with.”
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