“Third, and finally, the educated citizen has an obligation to uphold the law. This is the obligation of every citizen in a free and peaceful society--but the educated citizen has a special responsibility by the virtue of his greater understanding. For whether he has ever studied history or current events, ethics or civics, the rules of a profession or the tools of a trade, he knows that only a respect for the law makes it possible for free men to dwell together in peace and progress.” KnowsMenTogetherLawUnderstandingResponsibilityVirtueGreaterProgressSpecialEventsCitizensEthicsToolsThirdsTradeCurrentsProfessionObligationEducatedPeacefulCivicsFree ManCurrent EventsPeaceful Society Author:John F. Kennedy
“For example: (1) As if governed by Newton's First Law of Motion, an institution will resist any change in its current direction; (2) Just as work expands to fill available time, corporate projects or acquisitions will materialize to soak up available funds; (3) Any business craving of the leader, however foolish, will be quickly supported by detailed rate-of-return and strategic studies prepared by his troops; and (4) The behavior of peer companies, whether they are expanding, acquiring, setting executive compensation or whatever, will be mindlessly imitated.” IfsFirstsLawCompanyLeaderStudyExampleReturnBehaviorProjectsInstitutionsPreparedRateCurrentsAvailableFoolishSettingSettingsCorporateFundExecutivesTroopsPeersExpandingCravingCompensationStrategicNewtonAcquisitionLaws Of MotionExecutive Compensation Book:Warren Buffett on Business: Principles from the Sage of Omaha Source: Warren Buffett on Business: Principles from the Sage of Omaha