Book Review: Fortune's "USA: The Permanent Revolution"

It is refreshing to read in a major work from 1951 by the editors of Fortune magazine an affirmation of a basic fundamental foundation of capitalism that I arrived at in my research for "THINK Again: IBM CAN Maximize Shareholder Value."

​"One of the major responsibilities of a chief executive officer is the maintenance of a balanced, self-sustaining stakeholder ecosystem."

Peter E. Greulich, Author and Public Speaker

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The following is an excerpt from "USA: The Permanent Revolution.

​“The manager is becoming a professional in the sense that like all professional men he has a responsibility to society as a whole.

​"This is not to say that he no longer needs good, old-fashioned business sense. He does, and more than ever; the modern enterprise should be in business to make money. …  But ​​…

"The great happy paradox of the profit motive in the American System is that management, precisely because it is in business to make money years on end, cannot concentrate exclusively on making money here and now.
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“To keep making money years on end, it must, in the words of Frank Abrams, Chairman of Standard Oil of New Jersey, ‘conduct the affairs of the enterprise in such a way as to maintain an equitable and working balance among the claims of the various directly interested groups—stockholders, employees, customers, and the public at large.’ ”

Read the Review of Fortune's "USA: The Permanent Revolution."