Chapter 77

This kind of thinking is dangerous. It is a denial of the principle of private property with the profit reward for private initiative and risk taking. Foreign trade presents special problems, but it is none the less true in foreign as well as in domestic trade that if you want to sell you have to make a product the consumer wants to buy. In the development of the foreign market there is no panacea, no easy substitute for ingenuity and efficiency. We cannot expect the foreign consumer to adjust his desires to whatev…