Saturday, August 7, 2010

GM's Alfred Sloan Refused Slavery

From an article in The Freeman by Dr. Burton Folsom, author of New Deal or Raw Deal?:
Alfred Sloan, the [long-time] chairman of General Motors, framed the question this way: “Is American business in the future as in the past to be conducted as a competitive system?

He answered: “General Motors . . . will not participate voluntarily in what stands out crystal clear at the end of the road: a regimented economy.”
My, how things have changed.

[Note: the article topic is What Ended the Great Depression? Well worth a read.]


Ted Amadeus said...

I'll believe it when I see it...And keep buying Ford:
THEY didn't take the bribes from Der Schtaat!

Jeff Perren said...

Me, too, Ted. Only, I'm not sure you're aware - since I didn't make it clear - that Sloan was the CEO many years ago. He died in 1966.