ADMS 1010 Week 7 Retail and Consumers Winter 2013

I warn them that unless they are destroyed they will

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Unformatted text preview: n to demand lower prices than manufacturers could accommodate •  Many were forced out of business •  Survivors paid workers subsistence wages •  Independent retailers who could not compete because of scale feared being forced out of business Jim Love ADMS 1010 19 Backlash •  H.H. Stevens, Minister of Trade and Commerce faces conven>on of Retail Shoe Merchants in January 1934 •  Popular minister in the R. B. Benne`’s Conserva>ve government in the depression •  Feeling the pressure from Canadian voters, who were “among the hardest hit in the world from the depression” Jim Love ADMS 1010 20 H. H. Stevens I am a Conserva>ve in poli>cs, in business and in my general outlook. I believe very strongly in private property rights and individual ini>a>ve – which I consider the best method of handling the business of a na>on. At the same >me I realize that greed, selfishness and avarice cannot rear a state, and that other delinquencies, common to human nature, will creep into any system… I challenge the businessmen of this country to face some of the evils that have developed like a canker. I warn them that unless they are destroyed, they will destroy the system. Jim Love ADMS 1010 21 Michael Porter: Rethinking Capitalism the Next Major Business Transformation By Sean Silverthorne | December 21, 2010 The short term thinking in business today… http://www.bnet.com/blog/harvard/michael-porter-rethinking-capitalism-the-next-major-business-...
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