Competition; Monopolies -- United States; Trusts, Industrial
We can now make some interesting comparisons. The evident effect of
monopoly is, in general, to tax the community at large for the benefit
of those who own the monopoly. Let us see what proportion exists between
the two classes:
+-----------------------------------------------------+------------+
| Total number of persons engaged in manufacturing, | |
| mining, trade, and transportation (occupations more | |
| or less monopolized) | 5,647,368 |
| | |
| Total number of persons engaged in agriculture and | |
| in furnishing professional and personal services | |
| (occupations not monopolized) | 11,744,821 |
+-----------------------------------------------------+------------+
Thus at the greatest estimate we can make of the number benefited by
monopolies, for each man who is gaining by them, two are having their
income reduced. If we take the estimate previously made, that the utmost
number of persons who can possibly be reaping benefit by ownership of
the especially profitable monopolies, trusts, transportation lines,
mines, etc., is one million, we have opposed over sixteen millions of
the community who are being taxed by their operation. Let a sharp
distinction be drawn at this point, however. The above comparison is to
be confined to the things between which it is made, and not confused
with others to which it has no reference. It is not a comparison of the
sort which social agitators are fond of making between the great numbers
of the working classes and the relative scarcity of the wealthy. Except
so far as the operation of profitable monopolies by the few tends to
bring about this unequal distribution of wealth, that is a matter with
which we have nothing now to do.
There is one point in this connection, however, which it is well to make
plain, as it concerns a class of people which is not included in either
of the four divisions that we have already described--those who live on
the income of their property.
Public-domain text, read in full here on John Shaqi.
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