“ 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. ”
Woodrow Wilson, The New Freedom (1913). copy citation
| Author | Woodrow Wilson |
|---|---|
| Source | The New Freedom |
| Topic | finance corporations |
| Date | 1913 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/14811/14811-h/14811-h.htm |
Context
“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. Well, how are they going to raise it? They are going to raise it from the public in general, some of whom will buy their stock.”
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