Free Enterprise in a Free Society

by Harold Williams



Most of the private sector has long recognized the significance of the free enterprise system in the maintenance of a free, and libertarian society in the U.S. The business community has fiercely fought many government proposals and programs which it viewed as unwarranted intrusions into its proper domain. The future of the free enterprise system will be shaped by the public's perception of whether it is accountable to rational, objective decision makers who are acting according to publicly acceptable norms. While these decision makers must recognize the importance of the profit factor, they must also consider that the profit factor cannot be divorced from societal considerations. Finding solutions to these concerns while preempting an erosion of the free enterprise system will demand time, commitment, and the talents of the whole society. As Justice William O. Douglas recognized, the future of the free enterprise system will affect, if not determine, the future of this nation as a free society.

California Management Review

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Published at Berkeley Haas for more than sixty years, California Management Review seeks to share knowledge that challenges convention and shows a better way of doing business.

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