ABSTRACT
The typical economics textbook examines four types of market structures—Competitive Market Structures, Monopolistically Competitive Market Structures, Oligopolistically Competitive Market Structures, and Pure Monopoly. While these economic theories are still useful in describing and explaining the structure, conduct, and performance of some markets, the position advanced in this essay is that the theory of Centralized Private Sector Planning (CPSP) is a more accurate description and explanation of extant economic institutions. The corporations and industries that are the foundation of US industry have become, from both a structural and functional perspective, technologically, financially, and administratively interdependent. Five corporations account for 50 to 70 percent of all jet aviation fuel production. The men in industry must first create the mechanical possibility of such new and more efficient methods and correlations, before the business man sees the chance, makes the necessary business arrangements, and gives general directions that the contemplated industrial advance shall go into effect.
