They endeavor to solve the corporation problem merely by eradicating abuses, the implication being that as soon as the abuses are supervised out of existence, the old harmony between public and private interest in the American economic system will be restored, and no more "socialistic" legislation will be required.

But the extent to which this very regulation is being carried betrays the futility of the expectation.

And as we have seen, the intention of the industrial reformers is to introduce public management into the heart of the American industrial system; that is, into the operation of railroads and public service corporations, and in this way to bring about by incessant official interference that harmony between public and private interest which must be the object of a national economic system.

But this proposed remedy is simply one more way of shirking the ultimate problem; and it is the logical consequence of the persistent misinterpretation of our unwholesome economic inequalities as the result merely of the abuse, instead of the legal use, of the opportunities provided by the existing economic system.
An economic organization framed in the national interest would conform to the same principles as a political organization framed in the national interest.

It would stimulate the peculiarly efficient individual by offering him opportunities for work commensurate with his abilities and training.