Big Wheels Turning

Capitalism not only won, it turned into a marvelous machine of prosperity, led by people who could take an idea and turn it into an industry

"Make money, be proud of it; make more money, be prouder of it." --Henry R. Luce, 1937

With those words, this magazine's co-founder joined Calvin Coolidge ("The chief business of the American people is business"), former General Motors president Charles E. Wilson ("What is good for the country is good for General Motors, and what's good for General Motors is good for the country") and, alas, Wall Street's Gordon Gekko ("Greed...is good. Greed is right. Greed works") in defining and defending the 20th century as the century of business.

This issue, TIME's third in a series of five that chronicles...

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