ABSTRACT
Democracies where industry is privately owned and operates under the profit motive. The American industrial organization is based on private industry operating under the profit motive. The British industrial organization was based on private enterprise operative under the profit motive. These varying methods of organization produced varying standards of living. There was effective organization to raise prices and to protect profits. Trade associations price and trade agreements are against the law; the Government act instead to investigate or to control prices when necessary in the public interest. American laws are directed to suppressing trade associations and to keeping industry efficient and competing. The foundation of that success lies squarely with the American working man. In design, research and development work, in all countries, university trained man have been and will continue to be all-pervading. There were some who had a little experience in the works to add to their general experience.
