Individuals should enjoy as much freedom from restraint, as much opportunity, and as much responsibility as is necessary for the efficient performance of their work.

Opinions will differ as to the extent of this desirable independence and its associated responsibility.

The American millionaire and his supporters claim, of course, that any diminution of opportunity and independence would be fatal.

To dispute this inference, however, does not involve the abandonment of the rule itself.

A democratic economic system, even more than a democratic political system, must delegate a large share of responsibility and power to the individual, but under conditions, if possible, which will really make for individual efficiency and distinction.
The grievance which a democrat may feel towards the existing economic system is that it makes only partially for genuine individual economic efficiency and distinction.