The supreme principle [in Industrial Organization] has been the belief that business efficiency and the welfare of the employees are but different sides of the same problem. Character is an economic asset ; and business efficiency depends not merely on the physical condition of employees, but on their general attitude and feeling towards the employer.

Introduction, p. vii; Partly cited in: Felix Behling et al., The Changing Worlds and Workplaces of Capitalism. 2015, p. 194 - Experiments in industrial organization (1912)