CHAPTER 29

PUBLIC POLICY IN RESPECT TO MONOPOLY

REFERENCES.

_Anderson, B. M., Jr._, Competition versus monopoly the issue of the campaign. Independent, 73: 997-1002. 1912.

_Bolen, G. L._, Plain facts as to the trusts and the tariff. 1902.

_Brown, W. J._, The prevention and control of monopolies. 1915.

_Clark, J. B._, The problem of monopoly. 1904.

_Clark, J. B._, and _J. M._, The control of trusts. Ed., 1914.

_Clark, J. M._, Rates for public utilities. A. E. Rev., 1: 473-487. 1911.

_Collier, W. M._, The trusts. 1900.

_Davies, J. E._, Trust laws and unfair competition. 1916.

_Durand, E. D._, The trust problem. 1915. See also Q. J. E., 28: 381-416, 664-700. 1913-1914.

_Durand, E. D._, The trust legislation of 1914. Q. J. E., 29: 72-97. 1914-1915.

_Ely, R. T._, Monopolies and trusts. 1900.

_Gray, J. H._, The control of public service corporations. A. E. Rev., 4 (no. 1, supp.): 18-44. 1914. Round table discussion of above, 45-68.

_Hotchkiss, W. E._, Recent trust decisions and business. A. E. Rev., 4 (no. 1, supp.): 158-172. 1914. Round table discussion of above, 173-195.

_Jenks, J. W._, The trust problem. 1900.

_Knauth, O. W._, Capital and monopoly. P. S. Q., 31: 244-259. 1916.

_Knauth, O. W._, Competition and capital. Ibid., 30: 578-590. 1915.

_Knauth, O. W._, The policy of the United States toward industrial monopoly. 1914.

_LeRossignol, J. E._, Monopolies past and present. 1900.

_Orth, S. P._ (Ed.), Readings on the relation of government to property and industry. 1915.

_Ripley, W. Z._, (Ed.), Trusts, pools and corporations. Ed., 1916.

*_Source Book_, 383-385. The Sherman anti-trust act.

_Stevens, W. S._, The Clayton act. A. E. Rev., 5: 38-54. 1915.

The trade commission act. Ibid., 4: 840-855. 1914.

_United States Industrial Commission_, Report. 1898-1901. 19 vols.

_Wright C. W._, The economics of governmental price regulation. A. E. Rev., 3 (no. 1, supp.): 126-131. 1913. Round table discussion of this paper and that of J. M. Clark, 132-142.

_Wyman, Bruce_, Control of the market. 1911.

QUESTIONS.

1. What is the trust problem?

2. Does the public consider the growth of trusts to be good or bad? What do students of the question think of it?

3. Which one of the following views do you think to be nearest the truth and why? (a) The trust is a natural and inevitable outcome of modern conditions and is a distinct economic gain. (b) The trust is a result of special privileges and corporate abuses. (c) The trust is the greatest invention of this or any other age.

4. Would it be a good thing for society if a trust made great economies in production, crowded out its smaller competitors, and maintained prices just where they were before, dividing among its shareholders the amounts saved?

5. How would the effects on society be different if prices were reduced by better organization and the prevention of waste?

6. If it could be shown that trusts have lowered prices, should that fact exempt them from all interference from legislation?

7. Describe briefly the "unfair practices" of monopolistic corporations. What specific features of the recent railroad and trust legislation are aimed at the prevention of these practices?

8. Is it good public policy to allow a trust to undersell its smaller competitor in one district while it keeps up its prices elsewhere?

9. Are most positive laws intended to hinder competition or make it freer?

10. Copy from the statutes of two states far apart, those sections that pertain to anti-trust or anti-monopoly legislation. Note the general nature of this legislation, special features, penalties for violations, etc., and discuss.

11. What are the main provisions in one of the following: (a) Sherman Anti-Trust Law, (b) Massachusetts Business Corporation Law, (c) The New Companies' Acts, England, (d) German Company Law.

12. Abstract and discuss the Northern Securities decision. Do you see any arguments to be advanced for pooling? Do you think the decision effective in stopping pooling? Ripley (Ed.), Trusts, pools and combinations.