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Good Economics Is Good Morality
Principle No. 4 -- In our modern exchange
economy, all payroll and employment come from
customers, and the only worthwhile job security
is customer security; if there are no customers,
there can be no payroll and no jobs.
M.Qral:
It is
not right to jeopardize job security on the pretext
that it is in the interest of those placed in
jeopardy.
Principle No. 5 -- Customer security can be
achieved by the worker only when he cooperates
with management in doing the things that win
and hold customers. Job security, therefore, is
a partnership problem that can be solved only in
a spirit of understanding and cooperation.
M.Qral:
It is not right to create needless friction between
employer and employees bymisrepresenting the
facts.
Principle No. 6 -- Because wages are the
principal cost of everything, widespread wage
increases without corresponding increases in
production simply increase the cost of everyone's
living.
.MQr.al:
It is not right for employees to
extract unearned wage increases which are
added to the selling price and become a burden
on everybody.
Principle No. 7 -- The greatest good for the
greatest number means, in its material sense,
the greatest goods for the greatest number
which, in turn, means the greatest productiVity
per worker.
MQral:
It is not right to impede the
production from which allmaterial blessings flow.
Principle No. 8 -- All productivity is based on
three factors: (1) Natural resources, whose form,
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