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Books > Social sciences > Politics & government > Political ideologies > Marxism & Communism
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The New Economy - A Peaceable Solution Of The Social Problem (1907) (Paperback)
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The New Economy - A Peaceable Solution Of The Social Problem (1907) (Paperback)
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for free. This is an OCR edition with typos. Excerpt from book:
CHAPTER I THE TRUST AND DEMOCRACY THE PLOT IN THE DRAMA OF HISTORY
"We are moving on in a grand evolution of a social and industrial
order out of a semi-barbarian chaos." ? The Social Horizon. There
is a phenomenon, first appearing in America, which in our
generation has carried economic evolution to its highest pitch, and
that is the Trust?than which no greater sign of coming events was
ever vouchsafed to man. We all know what a trust in its general
features is?it means, that the different establishments in a given
line of business combine to stop competition between themselves and
thus regulate production?that is, the supply. Now note the
tremendous importance of this appar ently so simple matter. It is
an admission by our captains of industry, that competition has now
become highly injurious and is growing more and more unprofitable
to their interests; it is a further admission, that competition
involves planless production, and that plan- lessness here, as
elsewhere, means waste and inefficiency. This admission it is, that
has originated the Trust. But competition is the principle hitherto
ruling in our present industrial system, and the Trust, then, is a
complete break with and abandonment of that principle, and the
substitution for it of its very opposite: combination or
cooperation. It is this significant admission by business men of
all classes, that competition is henceforth ruinous to them?however
beneficent it may have proven in the past?that makes the attempts
to crush the Trust entirely hopeless; that which has become the
natural course for business and production is sure to break a path
for itself through all obstructions. It is just as foolish in
legislators to try to suppress the Trust as it would be for them to
legislate against the winds or t...
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