ABSTRACT
The easiest case to consider at the outset is that in which a single industry, having been brought under the control of a fairly inclusive combine, proceeds to plan its output. It is very likely that the existence of the combine will affect the possibilities of mass-production. Varieties which were the result of competition will tend to be eliminated, especially where they served no real purpose; and this too will tend to lower costs, and to increase the incentive to larger output. The “planned” industries will be able to produce more; but they will actually for the most part produce less, or at any rate much less than they are physically equipped to produce. The result will be seen in the deliberate scrapping of “redundant” factories, and in widespread unemployment of workers. Money is already quite as “planned” as any industry is likely to be under the closest form of capitalist combination.
