In his introduction to the first edition of Patterns, Robert H. Malott of FMC Corporation wrote, "Unfortunately, most corporations devote only a very small share of their contributions to public affairs. Worse yet, even these relatively small contributions often reflect a strategy of appeasement. Put more bluntly, many corporations actually reward the groups that most vigorously attack them."
Business support of groups and people who advocate an ever–more–intrusive role in the economy for government amounts to nothing more than feeding the alligator in the hope that he'll eat you last. As a stockholder, I feel betrayed when I see that happen. As a believer in the much bigger picture – the importance of a free society – I am outraged by it.
Corporate America needs to take a hard look at where its public affairs dollars are going and ponder the question, "Are we helping preserve and strengthen private property, free enterprise and individual initiative, or are we slitting our own economic throats by subsidizing groups that push for more centralized planning and control?"
In any event, anyone in business who suffers from the illusion that ideas are too intangible to matter should wake up and smell the coffee. Ideas make all the difference in the world because they create the stage on which we all perform.
Investing in ideas – the right ones, not just any ideas – is a long–term investment, but one that has a return every bit as tangible as the purchase of stock. If you want to be a player in the idea business, consider investing in the think tank movement, especially those groups committed to the free market. The return on that investment – a stronger, freer society – is the one yield that won't raise your tax bill and will go a long way to assure that your children live as free and prosperous citizens.