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Neil H. Jacoby

90 quotes

“[ Proposition 13 ] would precipitate a revolutionary reform—one long overdue—in California state and local finance… People’s incomes are not closely related to their ownership or use of housing. Hence, the present tax system unjustly burdens the young family with large housing needs and the older couple who want to live in their family home or their retirement pensions. Stability of home or apartment occupancy is an important social goal. The present tax system weakens our society by threatening to force people out of their homes.”
Neil H. Jacoby (1909–1979) first seen 1978 wikiquote, CC BY-SA 4.0 source
Recorded in: UCLA Business Forecast Conference, (March 16, 1978) quoted in Organization of Arab Petroleum Exporting Countries I’ Mad As Hell: The Exclusive Story of the Tax Revolt and its Leader, Howard Jarvis, Times Books, Westmins…
“Property tax bills are rising much faster than family incomes…. They threaten to erode away that foundation of American society: the American-owned home…. We must deliver an unmistakable message to our elected representatives that no longer will we permit misuse of the property tax to finance welfare, health, educational and other governmental services that serve all people in our state. Such government spending programs should be paid for by revenues collected from all the people.”
Neil H. Jacoby (1909–1979) first seen 1977 wikiquote, CC BY-SA 4.0 source
Recorded in: San Fernando Valley, CA speech (October 15, 1977) quoted in I’ Mad As Hell: The Exclusive Story of the Tax Revolt and its Leader, Howard Jarvis, Times Books, Westminster, Maryland (1979) p. 108
“An institution is likely to be more searchingly appraised if attention is focused at the outset upon its faults rather than its virtues.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“But beginning in the 1960’s, an adverse tide of public opinion began to rise against business… Frustration over the Vietnam War added fuel to the fires of discontent. Suddenly, consumerism, stock-holderism, racial equalitarianism, antimilitarism, environmentalism, and feminism became forces to be reckoned with by corporate managements. For the most part, they replaced the classical ‘isms’—[[w:Socialism | socialism, Communism, syndicalism, fascism—as the main driving forces seeking the reform of the American business system.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Reformist critics comprise the majority of contemporary critics of American business. To a considerable extent, their demand is not for new or stricter governmental controls, but for attitudes and policies on the part of corporate leaders that are more responsive to public needs. Our society needs reformist critics and the author counts himself among them.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Although the Marxist antithesis to the capitalist thesis has been vigorously advanced for more than a century, it has never gained significant support in the United States. Marxist voices have, during recent years, been drowned out by the complaints of the Reformers, on the one hand, and of the Utopian critics, on the other.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The Hippies are nonviolent anarchists who withdraw from the mainstream of society into their own communes. They are apolitical, libertarian, anti-industrialist, and essentially parasitic upon society. They have a nostalgic yearning for the smaller, simpler social orders of the past… Feeling and intuition are claimed as the source of their attitudes rather than reason and intellect.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“At the end of 1968, the United States contained about 1.6 million active, profit-seeking corporations and about 200 million people—one corporation for each 126 persons.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The growth of the British company population was not interrupted, as it was in the United States, by the economic depression of the 1930’s and World War II. By the middle 1960’s, the United Kingdom was more densely populated with companies in relation to its human population than was the United States, although the reverse had been true in 1935.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Even the population of business enterprises does not provide a comprehensive measure of ‘entrepreneurship’ in the United States because it excludes farmers, professionals, and other persons devoting at least part-time to selling their services in markets and who have neither an established place of business nor employees. A conservative estimate of the ‘entrepreneurial’ population is given by the number of individual income tax returns filed reporting income from self-employment. An estimated 11.1 million persons did so for 1968, one for each 18 persons in the United States.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The American credo is one of faith in institutional pluralism and of mistrust of large size and concentrated power, political or economic. The growth of giant institutions has always been viewed with apprehension, even though it has been for the most part the natural product of rising populations and income, and of technological changes that created economies of larger scale.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The largest corporations, like companies of lesser size, are a changing rather than a static group. Their annual turnover rate reflects the rise or decline of management and the vagaries of business fortune. Of the hundred largest industrial corporations in 1909, only thirty-six remained on this list in 1948. And, of the top hundred companies in 1948, only sixty-five continued to hold this ranking in 1968.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“It comes as a shock to many, therefore to learn that the majority of the labor force in the United States works for government, unincorporated business, nonprofit institutions, or are self-employed. Less than half of the total labor force was employed in the entire corporate sector in 1969.Less than one-quarter worked for ‘large companies,’ defined for present purposes as those employing more than two hundred people.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“During the recent nineteen-year period from 1950 to 1969, corporate profits, both before and after taxes, formed a shrinking proportion of the national income.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Modern management science has made it feasible for corporations to expand the scope and variety of their operations. It has created new economies of scale through which larger aggregations of men, materials, and funds can be efficiently deployed and controlled over larger areas.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“During 1968, more than forty-four hundred companies disappeared by mergers involving an estimated $43 billion in securities—an all-time record. In this tidal wave of mergers, which subsequently crested and receded, conglomerate firms accounted for either a substantial or a preponderant fraction, depending upon the definition of ‘conglomerate’ adopted.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The 4,400 business corporations that disappeared by merger during 1968 were a small number compared with the 12,000 that disappeared by failure, or the 207,000 new corporations that were formed. Even the $43 billion in securities exchanged in mergers that year were only 3.3 percent of the market value of corporate securities.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“A fourth factor underlying the merger wave of the 1960’s was the steep rise in the load of corporate income taxation since World War II. In 1940, the effective federal corporate income-tax rate was 27 percent; in 1968, it was 50 percent. Rates of state and local taxes on business incomes have risen commensurately.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Because some conglomerate, and other, mergers have proved to be unsound and failed. It has been proposed that government should prohibit such mergers. But there is no feasible way to identify bad mergers in advanced; only time and the test of market competition reveal them.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“A corporate manager, interested in playing a numbers game with stock price-earnings ratios for quick profits, is able to inflate current reported profits at the expense of future profits. The methods are legion: shift from accelerated to straight-line depreciation; defer or stretch out maintenance expense; deplete inventories held at low cost; sell assets for ‘one-shot’ income. Excessive flexibility in permissible accounting methods creates opportunities for misleading reports of profits.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Private business investment is inherently superior to governmental aid as an instrument of development because it combines transfers of managerial and technical assistance with that of capital.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The multinational corporation is leading Europe toward a more egalitarian, homogeneous, and democratic society. While traditionalists will deplore the gradual blurring of class and national distinctions, such segmentations cannot in the end withstand the onslaught of technological and economic changes.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The multinational corporation is, beyond doubt, the most powerful agency for global economic unity that our century has produced. It is fundamentally an instrument of peace. Its interest is to emphasize the common goals of peoples, to reconcile or remove differences between them. It cannot thrive in a regime of international tension and conflict. The instrumentality of multinational business is man’s best hope of achieving political unity on this shrinking planet.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“If big businesses in concentrated industries truly behaved as oligopolists, one would find higher prices, persistently higher profits, more extensive advertising, and less product innovation among such industries than among unconcentrated industries. However, the facts show either the contrary or insignificant differences. During the period of price inflation from 1965 to 1970, prices rose most in the unconcentrated industries.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“A second drastic reduction in the political power of American corporate business occurred during the Great Depression of the 1930’s. This crisis shook the faith of the American people in the capability of its industrial and financial leaders, even in the enterprise system itself… Roosevelt sought to make political capital of the popular disillusionment with business; and he made business a scapegoat for errors of federal economic policy that had deepened and prolonged the depression.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Certainly the political assets of American labor organizations are formidable in both manpower and money. Unlike corporations, eighteen million union members vote. With the union shop prevailing in most states and union dues being deducted from members’ paychecks, labor unions have a steady inflow of funds, estimated to be around $700 million per year in 1963…Indeed, many a businessman seeking a favor from government has found that his most effective course was to get the support of the leaders of the unions representing his employees!”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The basic flaw in the distribution of political power among American economic institutions is that producer interests rather than consumer interests tend to dominate and shape the actions of government.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Until 1837, companies were individually charted by ad hoc legislation. In that year Massachusetts enacted the first general corporation law, which was comparatively stringent in limiting corporate powers. Subsequently, motivated by the philosophy of free enterprise, as well as by competition among the states in charter-mongering, state corporation laws were progressively relaxed.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Because contributions for charitable and educational purposes were the earliest form of corporate social action, their pattern enables us to test the validity of our theory. Corporate giving was stimulated by federal legislation in 1935 authorizing companies to deduct from taxable income up to 5 percent on account of such gifts.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“During the sixty years between 1910 and 1970, the percentage of Americans living in urban areas of 2,500 or more rose from 45.7 to 73.5, and the number of urbanites more than tripled from 42 to 150 million. Urbanization clearly has brought important benefits to people… But this overwhelming tendency of people to concentrate in cities has worsened the environment through crowding, traffic congestion, delays and loss of time, and the over-loading of transportation, marketing and living facilities.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“World energy problems entered the headlines during 1973 and 1974 when members of the Organization of Petroleum Exporting Countries (OPEC) unilaterally quadrupled the price of crude oil. Concurrently, members of the Organization of Arab Petroleum Exporting Countries (OAPEC) cut back production and imposed a temporary embargo on shipments to the United States for political reasons. Suddenly, the industrialized nations awoke to their heavy and increasing dependence upon the abundant supplies of oil from Africa, the Middle East, and Latin America.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“In a world market that was free of all taxes, royalties, or other governmental constraints, and in which competition was effective, the price of oil would be very low. But the real-world market for oil is dominated by high taxation by the oil-exporting nations, and, since 1972, by concerted efforts of the members of the OPEC to raise prices and to restrict output. Because of effective competition in the industry and the power of OPEC, an international oil company today has relatively little influence on the price of oil to consumers.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“How did it come about that only a few international oil companies held concessions to all of this region Middle East at the end of World War II? The answer lies in the bitter struggle of the United States government to gain an entrance for its nationals into the British-dominated Middle East, a struggle which very significantly shaped the structure of the industry as it emerged from World War II.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Motivated partly by the decision to convert its navy from coal to oil, the British government ultimately acquired a major interest in what was then the only oil-producing company in the Middle East.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The foreign oil industry was radically affected by World War II. The burden of meeting Allied military requirements fell largely on the United States. Between December of 1941 and August of 1945, nearly 7 billion barrels of oil were produced to meet the requirements of the United States and its allies, almost 6 billion barrels of which came from the United States.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“During the war years, the United States government gave serious thought to acquiring a direct interest in Arabian [oil] reserves.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“In 1949 coal met nearly two-thirds of the world’s energy needs, oil less than one-quarter, and natural gas about one-tenth, with water power a residual 2 percent. By 1971 the use of coal had dropped to one-third of world energy consumption, while the use of oil had risen to 43 percent and natural gas to 21 percent.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Proven crude oil reserves in the foreign non-Communist world were estimated to be just under 41 billion barrels at the end of 1948; they had increased sixfold to 250 billion barrels by 1962 and then more than doubled this amount to 522 billion barrels by 1972. This increase over a twenty-four-year period was equivalent to an average annual compound growth rate of 11.2 percent—a spectacular expansion of the non-Communist world’s oil stock outside the United States and Canada.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Because exporting and importing nations have conflicting goals, and the interests of individual countries within each group are not identical, United Nations efforts to regulate the industry have not been successful.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The Soviet Union, as might be expected, conducted a ceaseless campaign to persuade the less-developed countries to nationalize their petroleum industries, by deprecating the record of private oil enterprises and extolling the virtues of governmental petroleum monopolies.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The postwar tendency of foreign governments to intervene directly in the regulation of petroleum production and pricing contrasts sharply with the laissez-faire policies followed up to World War II. Formerly, rates of output and prices were almost entirely within the discretion of the private oil companies.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“One hallmark of a competitive market is that new firms are able to—and do—enter it… The key economic consideration is the relative difficulty of overcoming the barriers to entry, which can be measured by the advantages of established firms in the industry over potential entrants. In general, the relative difficulty of entry into any industry is determined by the amount of capital required for an efficient scale of operations,…”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The competition of government oil companies with private enterprises was often buttressed by monopoly privileges, public preferences, low-priced capital, special tax benefits, or freedom from the commercial obligation to earn a normal return on investment. These government companies, regardless of whether they had complete or partial monopolies of oil production and trade in their own countries, were part of the structure of the foreign oil industry. They could not be dismissed as ‘noncompetitive’ with private oil enterprises.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“The postwar burgeoning of oil enterprises throughout the world wrought important changes in the structure of the foreign oil industry. Competitors multiplied, concentration of the industry was reduced, and the market positions of the ‘seven largest’ companies shrank.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Before World War II, the United States Gulf and the Caribbean were the foreign world’s primary sources of crude oil. Eastern Hemisphere consumption was relatively small and yet its crude oil production supplied less than half of its petroleum needs.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“World War I created a huge drain on U.S. oil. Fear of inadequate domestic reserves caused the U.S. government to urge its nationals to develop foreign sources and to support them in this effort. But American oil companies were unable to obtain exploration concessions in the Middle East and other areas because of the political influence of the British, Dutch, and French empires. The United States called for an ‘open door’ policy. Ultimately, after prolonged and stubborn British opposition, an agreement was made in 1928…”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“A foreign oil industry consisting mainly of private multinational companies competing in open markets has unique values to the Western World. Profit-motivated firms have proven to be better adapted to accept long-term risks and to allocate investment multinationally than have politically motivated government agencies.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Political payments by multinational companies in foreign nations have long been a pervasive practice; but a cultural taboo against discussion of the subject, combined with a lack of public information, has created a vacuum in public understanding.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Because conduct judged improper or illegal in one culture may be considered quite proper—even unavoidable—in other cultures, we have been chary of making moral judgments. Thus, we have sought to avoid the twin pitfalls of arrogant ethnocentrism and moral absolutism.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source
“Thus the principle that no foreign political payments shall be made often collides with the principle that we should expand international trade and investment, that multinational companies should conform to local business practices, that the United States should avoid extraterritorial application of its laws, or that this county should abjure moral as well as political and economic imperialism.”
Neil H. Jacoby (1909–1979) said by 1979 at the latest wikiquote, CC BY-SA 4.0 source