The Other Side a Brief Account of the Development of Industrial Organizations I
The Other Side a Brief Account of the Development of Industrial Organizations I
Lyman Horace Weeks
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These are, first, capital as such ; secondly, centralization, and thirdly, monopoly. For the most part, except by con- servative thinkers and speakers, the single word mon- opoly is used to cover them all, blanket fashion. A clear understanding of the specific qualities pertaining to each of the three, and especially an intelligent and frank acknowledgment of the difference between mon- opoly and the other two, are not generally made. Careful investigation, however, will con- Essential Element ...c i us j ve i y s h ow that, in cherishing this idea, of Monopoly (, & the public has taken council of its fears, in- stead of being guided by calm reason. Massing of capital does not necessarily give it monopolistic power, using the term monopoly in its generally ac- cepted sense, as meaning an absolute control of the production of an article or articles, and the use of that control to the detriment of the public by curtailing output and increasing prices. Broadly stated, there is no such thing and can be no such thing as monopoly in industrial enterprises.
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