“ The truth is, we are all caught in a great economic system which is heartless. The modern corporation is not engaged in business as an individual. When we deal with it, we deal with an impersonal element, an immaterial piece of society. ”
Woodrow Wilson, The New Freedom (1913). copy citation
| Author | Woodrow Wilson |
|---|---|
| Source | The New Freedom |
| Topic | society truth |
| Date | 1913 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/14811/14811-h/14811-h.htm |
Context
“I want to record my protest against any discussion of this matter which would seem to indicate that there are bodies of our fellow-citizens who are trying to grind us down and do us injustice. There are some men of that sort. I don't know how they sleep o' nights, but there are men of that kind. Thank God, they are not numerous. The truth is, we are all caught in a great economic system which is heartless. The modern corporation is not engaged in business as an individual. When we deal with it, we deal with an impersonal element, an immaterial piece of society. A modern corporation is a means of co-operation in the conduct of an enterprise which is so big that no one man can conduct it, and which the resources of no one man are sufficient to finance. A company is formed; that company puts out a prospectus; the promoters expect to raise a certain fund as capital stock.”
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