The Regulation of Industry

By Dudley F. Pegrum | Go to book overview

CHAPTER XVI
The State and Economic Life

Regulation and the Theory of the State

THE preceding chapters have dealt with a variety of different questions that are involved in the problem of the regulation of industry. These have been analyzed in terms of an economy based primarily on private enterprise. The proposals for dealing with the various issues have been advanced on the assumption that the continued development of such an economy is a desirable objective and, furthermore, that it is necessary if the democratic heritage of this country is to be preserved. Before proceeding to bring the scattered threads together into suggestions for a co-ordinated national policy for the regulation of industry, it is therefore appropriate to examine briefly the role of the state in economic life and to set forth the conception of the functions of the state which the recommendations assume. Without this setting the proposals are largely academic, because they depend upon the validity of the primary assumptions and cannot be adopted without them. Furthermore, the fundamental issues are insoluble, unless, and until, we analyze with greater care the political and social implications of the proposals and programs that are now being advanced to deal with current problems. The regulation or control of industry is meaningless outside of a particular political setting, and to assume that democracy is independent of the type of solution that may be developed for economic problems is to fly in the face of facts. A national policy for the regulation of industry must be in keeping with the demands of reconstruction, but the plans for the latter must be focused on the primary objective of economic policies essential to the maintenance of a liberal society.

The location of responsibility for directing and controlling economic activity is the core of the problem of the relation of the state to economic life. The issues that are involved are not unique to the present day, nor are the basic questions that are posed confined to economic matters alone. They are fundamental to the whole problem of freedom versus authority. Today, one frequently meets with forthright challenge

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The Regulation of Industry
Table of contents

Table of contents

  • Title Page iii
  • Preface vii
  • Table of Contents xi
  • Chapter I - The Problem and Its Setting 1
  • References 15
  • Chapter II - Institutional Arrangements 17
  • References 42
  • Chapter III - Forms of Business Organization 44
  • References 72
  • Chapter IV - The Scale of Enterprise 74
  • References 100
  • Chapter V - Price Policies 102
  • References 125
  • Chapter VI - The Combination Movement in The United States 127
  • References 156
  • Chapter VII - Integrated Combinations 158
  • References 173
  • Chapter VIII - Combination by Agreement 175
  • References 195
  • Chapter IX - The Law and Industrial Control 197
  • References 231
  • Chapter X - Anti-Trust Legislation 233
  • References 258
  • Chapter XI - Judicial Enforcement of The Anti-Trust Laws 260
  • References 310
  • Chapter XII - The Federal Trade Commission 312
  • References 359
  • Chapter XIII - Patents 361
  • References 387
  • Chapter XIV - International Combinations 389
  • References 421
  • Chapter XV - Control of the Corporation 423
  • References 439
  • Chapter XVI - The State and Economic Life 440
  • References 458
  • Chapter XVII - The Problem of National Policy 461
  • References 481
  • Table of Cases 483
  • Index 489
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