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Spring 2007
ISSN 0890-913X
Volume 22, Number 2

Koch Industries, Market Process Analysis, and the Science of Liberty

Charles G. Koch, Koch Industries, Inc.
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JournalofPrivateEntetprise,SpecialIssue,VolumeXXII,Number2,Spins2007AcceptanceremarksbyCharlesG.Koch,2005HermanW.LayMemorialAwardrecipientofTheAssociationofPrivateEnterpriseEducationonApril3,2005inOrlando,Florida.KochIndustries,MarketProcessAnalysis,andtheScienceofLibertyCharlesG.Koch*Thankyou,Wendy[Gramm,DistinguishedSeniorScholar,MercatusCenter,GeneMasonUniversity]forthatgenerousintroduction.Iamgreatlyhonoredtoreceivethisawardfromanorganizationthatsharesmycommitmenttoprosperitythroughfreedom.Andthatisthesubjectofmyremarks:HowtobringaboutthefreesocietybyapplyingMarketProcessAnalysisandtheScienceofLiberty.I'llstartwithalittlehistoryofhowIgotinvolvedwiththeseideas.AftergraduatingfromMIT,IwenttoworkforArthurD.Little,thenaleadingconsultingfirm.AfterIhadbeenatADLforabouttwoyears,myfatherbeganpressuringmetojoinhisfirm.ButIwaslearningalotandenjoyedwhatIwasdoing,soIturnedhimdown.Finally,hemademeanofferI*CharlesKochischairmanandCEOofKochIndustries,Inc.,thelargestprivatelyheldcompanyintheworldaccordingtoForbes,andauthorofTheScienceofSuccess:HowMarket-BasedManagementBuilttheWorld'sLargestPrivateCompany,whichdescribeshisMarket-BasedManagement®philosophy.CharlesG.Koch1
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