We do not postpone the participation of the lower classes of our people in the profits of economic enterprise, and in other countries, they do postpone it. In the long run, I think our policy is better, and we stand by it.
John W. Snow was paid more than $50 million in salary, bonus and stock in his nearly 12 years as chairman of the CSX Corporation, the railroad company. During that period, the company's profits fell, and its stock rose a bit more than half as much as that of the average big company.
The old way of doing 'good business' was based on the principle, 'the ends justifies the means.' In the future, good business will invoke 'the means justifying the ends.' The E P&L can already serve as an important tool to help this shift in commerce from generating profits with collateral damages to profits with collateral benefits.
The IP standards advanced countries favour typically are designed not to maximise innovation and scientific progress, but to maximise the profits of big pharmaceutical companies and others able to sway trade negotiations.