“ A trust is an arrangement to get rid of competition, and a big business is a business that has survived competition by conquering in the field of intelligence and economy. ”
Woodrow Wilson, The New Freedom (1913). copy citation
| Author | Woodrow Wilson |
|---|---|
| Source | The New Freedom |
| Topic | intelligence competition |
| Date | 1913 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/14811/14811-h/14811-h.htm |
Context
“And then in what they charged afterward for their product,—the product of his mills included,—they made us pay the interest on the four or five times the difference.
That is the difference between a big business and a trust. A trust is an arrangement to get rid of competition, and a big business is a business that has survived competition by conquering in the field of intelligence and economy. A trust does not bring efficiency to the aid of business; it buys efficiency out of business. I am for big business, and I am against the trusts. Any man who can survive by his brains, any man who can put the others out of the business by making the thing cheaper to the consumer at the same time that he is increasing its intrinsic value and quality, I take off my hat to, and I say:”
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