ABSTRACT
The need for a thorough-going policy of industrial reorganization must be obvious to even the most superficial observer of our present economic condition. If an industry is given the power to turn itself into a monopoly, it would be possible for it to use the power to restrict production and raise prices. Our chief reliance in the past for maintaining the productive efficiency of industry has been upon the self-regulating mechanism of a competitive economy. The growth of mechanical methods of production has diminished the elasticity of adjustment which characterizes an economy of smaller units. The Public Utility organization would differ from that for Public Concerns in important particulars. In conclusion, we can only reiterate what was stressed at the outset, that the only object of any organization of industry is to maximize the production of real wealth.
