Word: profitably
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Dates: during 1970-1979
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Most businessmen are still basking in the bright glow of second-quarter gains. Leading the earnings parade of manufacturers were the automakers, who were helped by price boosts on the 1976s and an unforeseen rush by buyers to larger, option-filled models that return a fatter profit than smaller cars. General Motors and Chrysler both announced record earnings for the period, $909 million and $155 million respectively; G.M., after paying its stockholders 60? a share in March, will move its third-quarter dividend back up to 85?. Ford's earnings quadrupled over the same period last year...
...Profit is today a fighting word. Profits are the life blood of the economic system, the magic elixir upon which progress and all good things ultimately depend. But one man's lifeblood is another man's cancer...
Nobel Laureate Samuelson addressed his pugnacious remarks to a forum of European and U.S. business leaders and economists at Harvard earlier this year. At the invitation of Management Expert John Diebold, the leaders had gathered to discuss new challenges to the role of profits in Western economies. Almost without exception, the speakers testified to the pressures and pinches now afflicting the profit system. In some instances, most notably Sweden, Socialist governments are levying confiscatory taxes on corporate profits and insisting upon huge contributions to pension funds, which in turn are being used to buy up the companies; "fund Socialism...
...attacks on profits are more rhetorical than real. No excess-profits tax has been levied on U.S. corporations since the Korean War. In fact, the regular federal tax on corporate profits has been lowered over the past three years from 52% to 48%. Hardly anyone questions the basic right of business to make some profit. The question has been, how much...
Dark suspicion of profit is an ancient turn of mind. Within Western culture there are deeply ingrained philosophical and religious misgivings about the morality of profits-most simply put, that to earn from the labors of another is an intrinsically evil form of extortion. Michel de Montaigne, the 16th century French thinker, entitled one of his essays "The Profit of One Man Is the Damage of Another." His thesis: "Man should condemn all manner of gain...