"Our economy must remain free - free of excessive government paternalism, regimentation, and control. As a nation, we are strong. With the freedom of economic enterprise that we possess, we are able to produce as much industrial goods as all the rest of the world combined -- even though we are only six percent of the world's people and possess only six percent of the world's land.
"These abundant blessings have come to us through an economic system which rests largely on three pillars:
- Free enterprise...the right to venture...the right to choose.
- Private property...the right to own.
- A market economy...the right to exchange.
"There are some in our midst, nevertheless, who decry free enterprise, who would place business, agriculture, and labor in a government straight jacket.
"Our economic order is not perfect, because it is operated by imperfect human beings, but it has given us more of the good things of life than any other system. The fundamental reason is that our economy is free. It must remain free. In that freedom ultimately lies our basic economic strength.
"Let us admit the weaknesses that exist. Let us work aggressively to correct them. But never let us make the catastrophic blunder of putting chains on our basic economic freedom. Yes, our phenomenal material advances have been the fruit of our freedom -- our free enterprise system -- our American way of life -- our God-given freedom of choice."