Foreword

Oh, yes, those of us who have succeeded at our enterprises are wise in our specialties. But it does not follow that we are wise in the broad aspects of the economic system in which we operate our enterprises. The very idea of "educating the masses" is inconsistent with the ideals of freedom and individualism to which we give lip service. Who are "the masses" ? Can the term be more appropriately applied to others than to ourselves? We are all individuals differing in qualities and abilities. We all share a basic human nature capable of self-development. If this be not true then the ideal of freedom is a fanciful myth. But this ideal is not fanciful, nor is its economic phase, free competitive enterprise. These are attainable. They are attainable if we quit regarding those we would convert as masses or classes. They are attainable if we recognize the individual as the fountainhead of good, of energy, of all that is creative. They are attainable if we acknowledge where attainment must begin: with ourselves.

Free competitive enterprise is something we have loudly acclaimed. We have praised it, however, not so much because we have understood it or even because we have wanted to practice it but more because it has seemed to us the antithesis of dreaded socialism. Many of us are not socialists, knowingly. Only now and then, among all of us in America, is there a skilled advocate of free competitive enterprise. Most of us are left speechless in a debate with a socialist, a radical labor leader or any other ardent collectivist. We sputter—we do not explain. We can neither speak our subject well nor do we practice it too well. For in the practical world we have inspired about as many antienterprise institutions as have our political opponents. Not only is confession justified and good for our souls but the meekness it inspires, that is, the teachableness, can save us. For we can learn free competitive enterprise as we have learned our enterprises. We can master the principles of freedom better than our opponents have learned the jargon of their systems, for the principles of freedom are superior!

Early in 1943 the officers and members of the Los Angeles Chamber of Commerce, perceiving these basic reasons for our troubles, seeing faults in ourselves instead of exclusively in others, began a program of self-education in free competitive enterprise. The program was simple. We formed a group of businessmen, big executives and little fellows, whoever was interested. A chairman, to serve as a moderator, was chosen. A member of our staff served as business manager. The group selected a day, most convenient to the majority, to meet once a week at luncheon time. We then selected an economist, a free competitive enterpriser at heart, skilled in his profession, reputed for his courage, his fairness and his broad understanding of business, of government, of labor, of agriculture and of consumer interests. At each session the economist lectured on some phase of free competitive enterprise. After this first section was under way, after the participants got the spirit of this self-educational venture, there arose a demand for other sections. We put five of them in operation, terminating them in early July to accommodate the absences normal to July and August.

In the fall of 1943 we began these enterprise sections on even a larger scale. We are to continue because there is a demand for continuance on the part of participants and others who have been told of the advantages and of the interest in this type of program. It is interesting to observe the advantages that have come to us. Our views on many things have been changed and prejudices have been removed. Events and issues of the day take on new meanings. Socialist doctrines and why they won't work are more easily perceived. We have clearer ideas for rebuttal and with clear ideas come words to express our thoughts. We even feel that we are conditioning ourselves for that level of business statesmanship which is to become so essential in the days and years immediately ahead. We have come to the conclusion that the best contribution we can make to the thinking in our country is to improve our own thinking.

While this program is edifying to us in Los Angeles its advantages are relatively slight unless there is an acceptance of it elsewhere, in communities both large and small.

We have contended that a program such as ours, modified in some respects to be sure, could be carried on in small as well as in large communities. To give this point a practical demonstration we collaborated with the Olympia, Washington, Chamber of Commerce by offering that organization the services of our Economic Counsel Dr. V. O. Watts. In Olympia a group, greatly varied occupationally, agreed to meet every week day at luncheon time for a period of three weeks. The experiment was a greater success than we had expected. The impressions of the Olympia participants are recorded as the concluding chapter in this issue of THE ECONOMIC Outlines of the fourteen lectures delivered in Olympia by Dr. Watts are printed herein not as a pattern to be followed by other economists who may perform similar tasks elsewhere, but rather to share their value and their sturdy philosophy with others, and to portray the general theme at which we are aiming.

Some people have remarked to me that programs such as these are difficult because there is a shortage of able economists, that economists, for the most part, are addicted to the socialistic doctrines. It is true of late that many publicized statements of certain economists have been leftist in tone. Nevertheless, among the nation's several thousand professional economists are a great number of free competitive enterprisers hoping for the day when they may have a hearing. This is not a thought fathered by a wish. To sample the field we recently wrote a personal letter to some six hundred economists in which we described our experiment and inquired of their interest. We hit an amazing "jack-pot" in the form of encouraging replies. And we only scratched the surface in our exploration. This type of program is now being nationally sponsored. The United States Chamber of Commerce is giving to it a leadership which a local organization cannot supply. However, we shall continue to provide such cooperation and assistance as we can to all who make inquiry. The publication of these lecture outlines is part of our contribution to what we hope will prove to be a rebirth of the spirit and faith which made America prosperous, strong and free.

Also, we take this means of expressing our gratitude to the Olympia Chamber of Commerce and to its officers: Stanley Starr, its president, and F. W. Mathias, its secretary, for their able and loyal effort in this cooperative enterprise. —LEONARD E. READ, General Manager Los Angeles Chamber of Commerce January 15, 1944.