Frank Stronach (born 1932) had been trained in Austria as a tool and die maker. He was poor. At age 23, and with a few dollars in his pocket, he emigrated to Canada and engaged in various entrepreneurial activities. The company he founded developed into the Magna-Group, one of the top-3 suppliers to the automobile industry in the world. Mr. Stronach is a billionaire today but still thoroughly involved in business and social activities despite his 80 years of age.
Let me just cite one phrase from Mr. Stronach’s article:
“Europe has been economically successful as a result of competitive and competition-oriented economies. Natural laws are stronger than laws created by people. One natural law is that fair competition leads to better performance, better products and better living standards. Whenever competition is reduced and when one interferes artificially in market forces, it become only a question of time until economic growth ends and living standards decline”.