ABSTRACT
This chapter reviews the economic sanction as combined with various mechanisms of control in the field of production. On the one hand appears competition, exerting a control precise, highly differentiated, self-registering and self-enforcing, and capable of coordinating very large numbers of transactions at once. On the other hand appear two mechanisms, consultation and direction, which are strong where competition is weak, and weak where it is strong. The Monopolies Commission was set up under the Monopolies and Restrictive Practices Act of 1948. It consists of ten members, most of them part-time, and its jurisdiction extends to cases where a third or more of the supply of any class of goods or services in Britain, or of exports from Britain, is under a single control. The organised review of management practice in the country is, like the Monopolies Commission's systematic review of the market, brand new.
