Towner Phelan, the St. Louis Union Trust Company's vice president for advertising in the 1940s, produced a monthly newsletter on the premise that the prosperity of the company's clients depended on the maintenance of the private enterprise system and the rejection of socialism.
Ludwig von Mises: "This, then, is freedom in the external life of manthat he is independent of the arbitrary power of his fellows. Such freedom is no natural right. It did not exist under primitive conditions. It arose in the process of social development and its final completion is the work of mature Capitalism." - Socialism