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We live in an age when the reputation of business is under siege. Among Democrats, for instance, the word “socialism” now polls better than does “capitalism.” But Republicans, while they pay greater lip service to some business ideals, are not in practice much better. Many of them have quite readily followed President Donald Trump into his attacks on free trade, immigration, outsourcing, and the American media (which is labeled “the enemy of the people”)—all fundamentally anti-business stances.1 Business, quite simply, has become underrated, and thus I am writing a contrarian book that ought not to be contrarian at all. All of the criticisms one might mount against the corporate form—some of which are valid—pale in contrast to two straightforward and indeed essential virtues. First, business makes most of the stuff we enjoy and consume. Second, business is what gives most of us jobs. The two words that follow most immediately from the world of business are “prosperity” and “opportunity.” Without business we would not have: • Ships, trains, and cars • Electricity, lighting, and heating equipment • Most of our food supply • Most of our lifesaving pharmaceuticals • Clothes for our children • Our telephones and smartphones • The books we love to read • The ability to access, more or less immediately, so much of the world’s online information And let’s not forget your paycheck. “Meeting payroll,” to invoke a now old-fashioned phrase, is nothing less than a heroic act. Someone or some group put in the hard work and thought up the innovations required to create a company from scratch—I know it’s easy enough to take this for granted if you aren’t the one who did it. On top of the paycheck, jobs are among our biggest sources of pride and a significant way to meet friends and establish social networks. By the way, when I use the word “business” I mean simply “a commercial or sometimes an industrial enterprise,” to pull a quick definition from Merriam-Webster. I’ll use the more legally precise word “corporation” interchangeably, even though the two concepts are not strictly the same. A kid with a lemonade stand is a business but not a corporation. That said, for the purposes of this book I will be considering institutions that are large enough and formal enough for the two words to serve as effective synonyms. I fully understand that the word “business” often sounds better to people than “corporation,” so if I sometimes use the latter it is also to shock some of my readers out of an implicit anti-corporate complacency.