America is best known and most respected as a nation of business, says Hoag in this Chamber-of-Commerce puff which goes on to define capitalism in terms of rights (including your right to ""buy whatever products or services you want""). Using both real companies and your own gardening service as examples, he offers naive explanations of how franchises work, how goods are produced and marketed, how the proceeds are allocated, etc. His examples of industrial research and development include the auto industry's ""emphasis"" on cleaner emission (implicitly, an all-out volunteer effort) and the constant search for ""newer and better products""--with automatic ice cube makers and instant food products cited as improvements. Hoag repeatedly refers to corporation's low profits and quotes a high tax rate of 48% of profits, without going into what is actually paid or mentioning that individuals are taxed on total earnings. He ends with a platitudinous chapter on business' ""citizenship role,"" as illustrated in the photo of Brooklyn children painting on the street, courtesy of the Chase Manhattan Artmobile. With a foreword by the president of Junior Achievement.