“Corporations are necessary to the effective use of the forces of production and commerce under modern conditions. We cannot effectively prohibit all combinations without doing far-reaching economic harm; and it is mere folly to do as we have done in the past—to try to combine incompatible systems—that is, to try both to prohibit and regulate combinations. Combinations in industry are the result of an imperative economic law which cannot be repealed by political legislation. The effort at prohibiting all combination has substantially failed. The only course left is active corporate regulation – that is, the control of corporations for the common good—the suppression of the evils that they work, and the retention, as far as maybe, of that business efficiency in their use which has placed us in the forefront of industrial peoples.”

“Introduction”, p. 3
Free to Choose (1980)

Source: The psychology of interpersonal relations, 1958, p. 82

From Who protects the consumer?, an episode of the PBS Free to Choose television series (1980, vol. 7 transcript) http://www.freetochoosemedia.org/freetochoose/detail_ftc1980_transcript.php?page=7

Source: Practical Pictorial Photography, 1898, Illumination of clouds and the direction of light, p. 101

1900s, Speak softly and carry a big stick (1901)

1920s, Second State of the Union Address (1924)

1900s, The Strenuous Life: Essays and Addresses (1900), National Duties
Context: Besides each one of us working individually, all of us have got to work together. We cannot possibly do our best work as a nation unless all of us know how to act in combination as well as how to act each individually for himself. The acting in combination can take many forms, but of course its most effective form must be when it comes in the shape of law —that is, of action by the community as a whole through the lawmaking body.