Lucio Tan Quotes
Competition must be replaced by cooperation.
“Combination” was then a word for a large corporate enterprise, monopoly or trust. Although large corporations are common in the modern economy, at the time there were very few of them and most of them use their power to crush competition and take advantage of helpless consumer. Instead of banning largeness as some wanted to do, President Theodore Roosevelt and others chose regulation, and the Sherman Antitrust Act and the Clayton Antitrust Act were passed. Individualism in the form of small businesses have proved amazingly resilient and have developed into a giants like Microsoft and a Google. Over half a of the new jobs created in our economy are done so by small businesses.
Lucio C. Tan Sr. is a Filipino billionaire businessman and educator with interests in banking, airline, liquor, tobacco, real estate industries, beverages, and education. In 2013, Forbes magazine listed him as the second richest billionaire from the Philippines with a net worth of $7.5 billion.
