The Principles of Human Progress

Charles Koch, Chairman and CEO of Koch Industries, is one of the great business minds of our time. He grew a small engineering firm from $21 million in revenue to over 10,000 times the revenue. Yet in both his business and philanthropic work, he is first and foremost a philosopher. Koch explains how thinkers such as Abraham Maslow and Joseph Schumpeter shaped his outlook on the conditions for human flourishing, and why it's important to enable every employee to self-actualize. Rejecting centralized top-down systems, Koch developed Market-Based Management -- a philosophy that enables his companies to constantly reinvent themselves through virtuous cycles of mutual benefit that provide value to both employees and customers.

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