While a scientific approach will help in solving many problems of business detail, the substitution of scientific method for a rule-of-thumb approach will realize its object most completely in the influences exerted upon fundamental long-time policy, influences which cannot bear fruit in a day or a year. The circumstances of our history have retarded the acceptance of a long-time scientific viewpoint in business, but forces now at work are making powerfully for a scientific approach to business management. First among these is a realization that our resources are measured in finite terms. We have begun to take account of what we have, and we are able in a rough way to figure the loss from what we have squandered. The situation is not desperate, but we can see that it may become so. To insure against possible disaster in the future we need to exercise effective economy in turning resources into finished goods, and we need to eliminate waste in the distribution and the consumption of these goods. In private business the need for such economy is reflected in rising prices for raw materials. In its public aspect we have labeled the problem, conservation. A second force making for a scientific approach to business is found in the beginnings of a social policy to which I have referred. This policy is showing itself in limitations upon the way in which materials and men may be utilized and in a sharper definition of the business man's obligations to employees, to competitors and consumers. As long as resources are to be had for the asking, while cheap labor can be imported and utilized without restraint, and where no questions are asked in marketing the product, there is not the right incentive to do things in a scientific way. As business becomes more and more the subject of legal definition, as the tendency grows of regarding it as a definite service, performed under definite limitations, and for definite social ends, margins will be narrowed and it will become increasingly necessary to do things in the right way. The scientific approach to business has made great progress during the past decade. Out of the hostile criticism to which so-called big business has been subjected have come several government investigations and court records, in which policies of different concerns have been explained, criticized, and compared. Besides, business men themselves have become less jealous of trade secrets and have shown an increasing inclination to compare results. A good illustration of this tendency is seen in the growth of "open price associations" and in the spirit in which credit men, sales managers' associations, and other business groups exchange information. In the same spirit, business and trade journals have given a large exposition of individual experience and increasing attention to questions of fundamental importance.