Excerpt from Edward Earle Purinton’s Big Ideas from Big Business (1921)
Among the nations of the earth today America stands for one idea: Business. National opprobrium? National opportunity. For in this fact is, potentially, the salvation of the world.
Thru business, properly conceived, managed and conducted, the human race is finally to be redeemed. How and why a man works foretells what he will do, think, have, love and be. And real salvation is in doing, thinking, having, giving and being—not in sermonizing and theorizing. I shall base the facts of this article on the personal tours and minute examinations I have recently made of twelve of the world's largest business plants: U.S. Steel Corporation, International Harvester Company, Swift & Company, E. I. du Pont de Nemours & Company, National County Bank, National Cash Register Company, Western Electric Company, Sears, Roebuck & Company, H. J. Heinz Company, Peabody Coal Company, Statler Hotels, Wanamaker Stores.
These organizations are typical, foremost representatives of the commercial group of interests loosely termed "Big Business." A close view of these corporations would reveal to any trained, unprejudiced observer a new conception of modern business activities . . .
The soundest science is business. All investigation is reduced to action, and by action proved or disproved. The idealistic motive animates the materialistic method. Hearts as well as minds are open to the truth. Capital is furnished for the researches of "pure science"; yet pure science is not regarded pure until practical. Competent scientists are suitably rewarded—as they are not in the scientific schools.
Use the excerpt to answer the question.
Which of the following weaknesses of the American economic system in the 1920s is BEST reflected in Purinton’s ideas?
A.
Wealth was distributed unequally.
B.
There was high stock market speculation.
C.
Most Americans lived below the poverty line.
D.
Many held that businesses could be trusted to self-regulate.
D. Many held that businesses could be trusted to self-regulate.
Based on the given excerpt, the weakness of the American economic system in the 1920s that is best reflected in Purinton's ideas is:
D. Many held that businesses could be trusted to self-regulate.
Purinton's emphasis on the importance of business and his belief that properly conceived and managed business could redeem the human race suggests a trust in the ability of businesses to regulate themselves and operate in the best interests of society. This reflects a weakness in the economic system because it overlooks the potential for businesses to exploit their power and engage in unethical practices.