“Different from a great part of the world, we in America persist in our belief in individual enterprise and in the profit motive; but we realize we must continually seek improved practices to insure the continuance of reasonable profits, together with scientific progress, individual initiative, opportunities for the little fellow, fair prices, decent wages and continuing employment.”

—  Franklin D. Roosevelt

1930s, Fireside Chat in the night before signing the Fair Labor Standards (1938)
Context: The Congress has provided a fact-finding Commission to find a path through the jungle of contradictory theories about wise business practices — to find the necessary facts for any intelligent legislation on monopoly, on price-fixing and on the relationship between big business and medium-sized business and little business. Different from a great part of the world, we in America persist in our belief in individual enterprise and in the profit motive; but we realize we must continually seek improved practices to insure the continuance of reasonable profits, together with scientific progress, individual initiative, opportunities for the little fellow, fair prices, decent wages and continuing employment.

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Franklin D. Roosevelt190
32nd President of the United States 1882–1945

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