Under the new dispensation, as has already been remarked, coalitions should reasonably be expected to grow to a larger size and achieve a greater efficiency for the same purpose.
The large gains of the large corporate coalitions are commonly ascribed by their promoters, and by sympathetic theoreticians of the ancient line, to economies of production made practicable by a larger scale of production; an explanation which is disingenuous only so far as it needs be.

What is more visibly true on looking into the workings of these coalitions in detail is that they are enabled to maintain prices at a profitable, indeed at a strikingly profitable, level by such a control of the output as would be called sabotage if it were put in practice by interested workmen with a view to maintain wages.

The effects of this sagacious sabotage become visible in the large earnings of these investments and the large gains which, now and again, accrue to their managers.

Large fortunes commonly are of this derivation.
In cases where no recapitalisation has been effected for a considerable series of years the yearly earnings of such businesslike coalitions have been known to approach fifty percent on the capitalised value.

Commonly, however, when earnings rise to a striking figure, the business will be recapitalised on the basis of its earning-capacity, by issue of a stock dividend, by reincorporation in a new combination with an increased capitalisation, and the like.