ABSTRACT
The growth of British public service undertakings has been characterized by opportunism and experimentation. This is to be expected, because the traditional British method is to settle problems as they arise rather than to devise a logical plan of economic organization in advance as do certain Continental nations, notably the Germans. For the time being, the public utility trust appears to hold out most promise of preference in the future. Moreover, it combines elements of socialization with aspects of private management, initiative, and elasticity that should be preserved. Public utility development, if it is founded on consumers' rather than on producers' economics, should help to overcome business depression and to strengthen the economic life of the nation. The development of the guild principle is one of the foremost ways of checking bureaucratic tendencies because the creation of a corporate spirit and of professional standards brings about self-regulation, the necessary basis of social responsibility.
