Obama Urges Tomorrow's Biz Leaders to Pursue Profits with a Purpose

“Hello Evanston! Hello Northwestern!”

Thus began President Barack Obama’s speech on the economy Thursday at Northwestern’s Kellogg School of Management.

He went on to urge the business students to be good stewards of the American economy by making choices based on facts not cable news rants and by keeping the middle class in mind as they pursue profits.

“There is a reason why I came to a business school instead of a school of government,” Obama said toward the end of his roughly one-hour speech. He believes, he said, “in a higher principal, which is we’re all in this together. That’s the spirit that made the American economy work.”

The president listed initiatives and stats from his time in office, ranging from health care reform to a more stable housing market to improved elementary school test scores, which he said show that his administration’s policies are helping to grow the economy.

And he talked about the work that still needs to be done, including raising the minimum wage, closing the pay gap between men and women (“it’s stupid,” he said), and reducing the onerous level of college debt.

He challenged Kellogg students directly on some questions, such as the Republican’s desire to reduce taxes for the wealthiest Americans in order to stimulate the economy.

With all the economic data Kellogg has at its disposal, Obama asked, “has anyone seen a credible argument that this is what our economy needs?”

“America’s greatness has never trickled down from the top,” he said. He then urged the students to keep the middle class in mind as they become the “business leaders of the future.”

“As you engage in the pursuit of profits,” he said, “I challenge you to do so with a sense of purpose.”

Click here to see photos of the president’s visit to Evanston.

You can watch the full speech on YouTube or by clicking the video below.