[The Promise Of American Life by Herbert David Croly]@TWC D-Link book
The Promise Of American Life

CHAPTER XII
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Those implications include, according to the results of the foregoing discussion, not only a repeal of the Sherman Anti-Trust Law, but the tempering of the recognition with certain statutory regulations.
It by no means follows that such regulation satisfies all the objects of a constructive national economic policy.

In fact it does not satisfy the needs of a national economic policy at all, just in so far as such a policy is concerned not merely with the organization of industry, but with the distribution of wealth.

But inasmuch as the decision has already been reached in preceding chapters that the national interest of a democratic state is essentially concerned with the distribution of wealth, the corporation problem must be considered quite as much in its relation to the social problem as to the problem of economic efficiency.
The American corporation problem will never be understood in its proper relations and full consequences until it is conceived as a sort of an advanced attack on the breastworks of our national economic system by this essential problem of the distribution of wealth.

The current experiments in the direction of corporate "regulation" are prompted by a curious mixture of divergent motives.

They endeavor to evade a fundamental responsibility by meeting a superficial one.


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