RNS Quote of the Day

It takes extraordinary skill to hold more than 50% of a large industy’s market in a free economy. It requires unusual productive ability, unfailing business judgement and unrelenting effort at the continuous improvement of one’s product and technique. The rare company which is able to retain its share of the market year after year and decade after decade does so by means of productive efficiency and deserves praise, not condemnation.

Based on a paper by Alan Greenspan given at the Antitrust Seminar of the National Association of Business Economists in Cleveland on September 25th, 1961

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