Freedom is Hard Work; K.S. Wood

FREEDOM IS HARD WORK A BUSINESS FRIEND of mine complained the other day, "Boy, is the competition getting tough! Changes are coming so fast I can hardly keep up with them. If some thing isn't done about these discounters, I don't know what's going to happen." I think many people in business feel that there is something wrong with the economy when competition is fierce. They then support laws to regulate the "cut throat competition," and the like. But the fantastic productivity of the free society isn't handed to us on a silver platter! It is developed because of the powerful incentives the free society supplies to everyone-and the greatest incentives as well as the high est pressures are applied to those who are directly re sponsible for productivity: the businessmen. Let me hasten to add that almost everyone of us is, in some sense, a businessman-being responsible for organ izing and using the factors of production.

When a businessman is tempted to look for help from the law, it may be well to consider the following: Mr. Wood is President and Treasurer of Wood Brothers Manufac~ turing Company, Oregon, Illinois. 380 FREEDOM IS HARD WORK 381 1. We have no inherent right to manage a business, only the right to try. If others do it so much better that we have to "close up shop," then we have to join the ranks of those who work for others. This is a proud posi tion in a free society and not one to be ashamed of. 2. In a free society, we usually aren't forced to discon tinue a business, even though competition hurts. More likely, we have to accept a reduced income, which may be temporary or permanent, depending on circumstances. A friend of mine once suggested, for example, that "there ought to be a law" with regard to pricing below costs, as one of his competitors was doing. This was hurt ing my friend's business, of course. However, exploring the subject further with him revealed that his business was by no means entirely dependent on that particular line. He's still in business today and successful.

3. Successfully meeting competition depends upon creative ideas. One must have faith that tomorrow's ideas will be sufficient for that day's needs, just as were yes terday'S. Nor can we have tomorrow's creative ideas to day; they must come to us in their own good time. 4. We should be thankful that we have this hard chal lenging work to do. It is evidence of our having the re sponsibilities of free men. In countries lacking freedom, people tend to "take it easy," to shirk-and the result is boredom and frustration. We businessmen would do well to expect things to be tough always. If organizing and planning for the needs of society were easy, why, even the government could do it!