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THE PUBLIC'S INTEREST
IN
PRIVATE PROFIT
"Public interest" and "private profit" . . . two phrases often used, particularly in broadcasting, and sometimes thought to be conflicting and incompatible. Corinthian believes them to be inseparable and completely compatible.
Profit is the mainspring of this country's economic system, a system we have chosen to best serve most of the needs and wants of the people. It provides our lipsticks and our locomotives, our matchbooks and our magazines, our baby bottles and our broadcasting.
The purpose of the competitive profit system is not to enrich the few, but to responsively serve the many. Those who serve best profit most. This is the incentive which encourages people to build better mouse traps ... to operate more efficiently . . . to try to guess what the consumer will want tomorrow and the day after tomorrow.
At the heart of the profit system is a simple idea : most needs are best met by letting the people themselves make their own decisions . . . the free choice of those who use and the competitive response of those who produce. The alternative is a master plan developed and directed by government, a solution now being questioned even within the walls of the Kremlin.
Corinthian believes that this competitive profit system, although less than perfect like every human institution, has served us all well. It has provided an unparalleled standard of living and contributed importantly to the maintenance of individual freedom.
In our judgment, "private profit" is clearly in the "public interest."
Responsibility in Broadcasting
THE CORINTHIAN