MANAGEMENT: Workers of the World, Buy It!

In looking over the writings of Karl Marx, U.S. Steel's Chairman Ben Fairless decided that Marx had missed a trick. "In his thirst for revolution," Fairless told a meeting of the Pennsylvania state chamber of commerce at Pittsburgh last week, "Marx overlooked completely the only economic system on earth under which it is possible for the workers themselves to own, to control and to manage directly the facilities of production. Shocking as the news may be to the disciples of Karl Marx, that system is capitalism."

Fairless had done a little figuring on how the employees of U.S. Steel could...

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