Speech

besides, of what good is money and paper assets when they are not backed by anything tangible. money is useless and of no value unless it is backed by wealth production, money is useless when there is no wealth to exchange in the first place, wealth must be produced first before it can be exchanged for something, and manufacturing is the only way wealth is created, people have such short memories, forgetting what real wealth is and money is just a convenient medium of exchange, nothing more

the difference between larry and the older generations before him is that larry only produces paper that can lose value anytime but the older generations before him purchase companies not to liquidate them but to make them even more productive, innovative, inventive, creative in the form of new manufactured products! Not paper assets in the form of fiat money back by nothing, not in the form of stocks back by nothing! Production is wealth creation, money is just exchange of wealth only.

Powerful stuff. I get goosebumps every time I listen to Peck's speech (same with DeVito's to an extent). Say what you will about the philosophy Peck portrays in this film, he does represent something sadly missing in today's society - loyalty to one's company and it's workers. Let us never forget that it was the type of company President Peck protrays who built America into a historic success and not "Larry the Liquidator."

Obviously Jorgenson is a great industrialist. However he has to realize that some products get obselete and that's where Larry fills a function. Jorgenson would trick himself and the employees if they were to keep doing what they do. Larry and Jorgenson are two functions of the same gold coin. Produce! But once your time is up, acknowledge that fact and let's move on.

This is a great speech, and it is often used in economics classes, along with the reply from Danny DeVito - Laurence Garfield.  Also a great speech.

Yes, both of them make excellent points. Very good for economics classes, both of them.

mr smith goes to washington and OPM aka AIG wants all other peoples money

the prayer for the dead!!

You forgot to say amen.