Show Understanding Our Economic System More and more business leaders have been expressing deep concern over what they feel is a lack of understanding of the workings and values implicit in our free enterprise system of doing This worry is in substantial on surveys that indicate a woeful misconception of what that system has particularly among young An eloquent appeal for better understanding was made by Robert C. chairman of the board of the F. W. Woolworth Addressing a group of business and professional he set his stage in these who have enjoyed the tremendous benefits of the free enterprise be particularly remiss at this critical point in the nation's they failed to speak out in support of the concept that has made possible the highest standard of living achieved by any nation at any time in Kirkwood fully realizes that the system is not But it has done an outstanding job of correcting deficiencies and righting It in his the most remarkable method ever devised for producing and distributing goods and As he cites the fact that more than 70 million people are despite the growth of that our nation produces more than one third of all the manufactured goods in the and that our investment in capital including such institutions as schools and hospitals as well as is about three times as great now as when we entered World War Despite all misinformation concerning our system Here Kirkwood also cites Only one person in three thinks that investment in factories and machinery makes a major contribution to economic More than half of the adult population believes that net profits of most business firms are equal to or exceed total wages while fewer than one tenth know that payrolls substantially exceed And a survey of high school seniors showed that too many of them thought American business was monopoly-ridden and that profits were These errors of belief matter in Kirkwood's because if the United States is to maintain its economic the private enterprise system must be permitted to function since the attitude and action of present and future government administrations and Congress are actuated by public opinion and political it is essential to muster active and constructive support for the free enterprise he not the least important point in the case for economic literacy is the fact in the final the economic decisions made by the federal government are of the greatest moment in the personal life of the individual What can be Kirkwood suggests that business and professional people work more closely with the school He points to the need for maintaining a climate of that being basic to the And he praises the various existing programs which provide training and knowledge to young At the end Kirkwood restates his theme in these if we are to insure that our free enterprise system is going to continue without restrictive regulations that would smother we must be willing to speak so that the people of the United States will understand and appreciate the system's contributions and its important role in today's |