“One thing I fear, that you Americans will do the same thing that you did after the last war. I mean that you will pull out of here and leave Europe, then Russia will have her way. Private enterprise and individual rights will be lost just as much as under a Nazi government. Frightful!” WayMeanWarGovernmentLastsIndividualLostRightsOne ThingEuropeRussiaEnterpriseNaziIndividual RightsPrivate Enterprise Author:Hjalmar Schacht
“It is a popular error that bureaucracy is less flexible than private enterprise. It may be so in detail, but when large scale adaptations have to be made, central control is far more flexible. It may take two months to get an answer to a letter from a government department, but it takes twenty years for an industry under private enterprise to readjust itself to a fall in demand.” YearsMayMadeTwoGovernmentFallAnswersMonthsIndustryDemandLettersTwentiesErrorsDetailsScalesDepartmentEnterpriseBureaucracyAdaptationFlexibleTwo MonthsLarge ScalePrivate Enterprise Book:Contributions to Modern Economics Source: Contributions to Modern Economics