Alfred P. Sloan - Thinking Quotes

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We must move toward a soundly based and widely distributed economic well-being. This is the 'theory of plenty' as distinguished from the 'theory of scarcity' which has dominated our recent economic thinking and politics. Our yardstick, according to my thinking, I consists of the most effective balance between the following: First, the reduction in the real costs and selling! prices of goods and services; second, a more economic balance of national income through policies affecting wages, hours, prices and profits.

Alfred P. Sloan
Industry must further expand its horizon of thinking and action Industry must further expand its horizon of thinking and action. It must assume the role of an enlightened industrial statesmanship. To the extent that it accepts such broadened responsibilities, to that degree does it assure the maintenance of private enterprise, and with it the exercise of free initiative as the most efficient creator of wealth.

Alfred P. Sloan
Competition is the final price determinant and competitive prices may result in profits which force you to accept a rate of return less than you hoped for, or for that matter to accept temporary losses. And, in times of inflation, the rate-of-return concept comes up against the problem of assets undervalued in terms of replacement. Nevertheless, no other financial principle with which I am acquainted serves better than rate of return as an objective aid to business judgment. This principle had governed the thinking of the Finance Committee of General Motors since 1917.

Alfred P. Sloan