ABSTRACT
T H E questions discussed so far-monopoly and bigness, profitability, market and market price, profit motive-have been with us for over a century. For the most part this chap ter has done l i t t le but sum up a tradit ional debate. But, as has become clear during the last ten or twenty years, the fu ture of the industrial system w i l l not be decided by the an swer we give to the classical questions of economic policy, but by its abil i ty to provide f u l l employment. I f the free-enter prise system fails to maintain f u l l employment, i t w i l l not survive, whatever its other advantages. I f i t solves the fu l l - employment problem i t w i l l have the support of the great ma jor i ty of the people i n this country. F u l l employment has become the touchstone of America's economic system and the focus of our economic policy.
