The Regulation of Industry

By Dudley F. Pegrum | Go to book overview

CHAPTER XVII
The Problem of National Policy

THE continuance of a private enterprise system in the United States depends upon our ability to maintain an industrial structure that is primarily competitive in nature. If we are to be successful in doing this, the basic ideas which underlie the anti-trust laws will have to provide the foundation of public policy. The question is frequently raised, however, whether the anti-trust laws can succeed and, if so, what needs to be done in order to assure their success. The answer to this depends, in part, upon the kind of world in which we are going to have to live for some years to come and, in part, upon our reaction to the problems of reconstruction which we face. If the future precludes peaceful reconstruction or if we become involved, immediately, in a third world war, the prospects of preserving a free society and a private enterprise economy are not very bright. Even though peace were assured, reconstruction would have to follow a different path from that which it took after World War I if a healthy private enterprise economy is to be restored. Anti-trust policy and the regulation of industry can succeed only if reconstruction policies are clearly and consciously oriented to that end. A brief examination of what was done after World War I and of the problems we now face is a prelude, therefore, to recommendations for improving our regulatory policy.


World War I and the Aftermath

War, especially if it is on an extensive scale, inevitably leads to a rapid expansion of the functions of government in economic life. The outbreak of World War I in Europe on August 1, 1914, ushered in a period of world-wide conflict and dislocation that has not yet come to an end. In no real sense can it be said that this country has experienced normal conditions and normal development for the last thirty years. 1 During that period our economy has been subjected to the disrupting

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1
That is unless one insists that what we have been experiencing is "normal" for a revolutionary period of history.

-461-

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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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