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But, the implementation of the capitalistic principles presented in this proposal would render impotent those altruists who are currently in positions of corporate power. For, without those altruistic business quislings, the value destroyers would be powerless to sacrifice the value producer. Their demands for sacrifice would go unanswered. The decline of capitalism would end. A new renaissance would begin. Civilization would rise to a new standard of rationality. Benevolence and goodwill among men would flourish. Man's productivity and happiness would soar.
How do those concepts of business, capitalism, and altruism relate to the common-stock value of Du Pont? This is how:
Man requires self-interest motives to be productive and creative. Man achieves happiness through his productive and creative efficacy. That is the nature of man. When altruistic businessmen assume managerial positions within a corporation, their standards of selflessness and sacrifice are asserted to allow them to neocheat rather than to earn their way to competitive power and wealth. Since selflessness and sacrifice are contrary to value production and competitiveness, the producer's efficacy will diminish. His job effectiveness will decrease, and the future of his company will fade. Thus, as altruistic executives translate their standards into practice, the value of their company to stockholders and society shrinks.
Do such men exist within the Du Pont management? How can they be identified? They are characterized by their lack of singular purpose to create long-range assets, values, and profits. They are also characterized by their willingness to subjugate the best interests of the corporation and its stockholders to some fake "higher cause" or spurious "public good". Altruists can achieve their unearned ends only by sacrificing the values earned by others...such as the assets, profits, and earning potential of a corporation. They are eager to sacrifice that which has been earned and built by others. They are willing to sacrifice the stockholders' equity, potential, and property to "higher causes".
Within Du Pont there has been a gradual shift in the nature of the management from the objective, pro-capitalistic asset builder to the altruistic, socially-oriented "business leader". That shift continues under such sophistic rhetoric as "being practical", "the wave of the future", "young blood", "changing reality", "progressive needs", "social awareness", "public good", "higher causes". At the same time, the concepts of objectivity, efficacy, happiness, competence, effort, productivity, and profits are being increasingly subverted. ...These assertions about Du Pont management will be demonstrated with concrete facts later in this proposal.
Whenever long-range values are created by business, society benefits. By far, the greatest beneficiary of a profitable business is society. But the basic reason for operating any business can never be to "serve" society short range at the expense of long-range assets and earning, lest the business be eventually drained and stagnated. The only just and moral reason to operate a business is to benefit its owners through the production of competitive values for others and society. Only to the extent that owners profit can employees, society, or anyone else gain long-term values and benefits. Consequently, a business run for the best long-range financial profit of its owners will always yield the maximum, long-range benefits to society. Conversely, only by producing maximum values for society can a business produce maximum, long-range profits for its stockholders. ...That is the benevolent nature of capitalism.
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