XI. THE LAWS OF MODERN COMPETITION 145 Competition defined, 145 Competition in corn-raising, 146 In paper-making, 147 In railway traffic, 149 The laws governing competition deduced, 150 Monopoly defined, 155 Natural agents in production, 156 Different classes of competition, 157 The three salient causes of monopoly, 159 The proper remedy for monopoly, 160. XII. THE EVILS DUE TO MONOPOLY AND INTENSE COMPETITION 162 The theoretical perfection of human industry, 162 Over-production not a fault of production, 163 The ideal distribution of wealth, 164 The law of supply and demand, 165 Evils due to monopoly: the congestion of wealth, 166 How great fortunes are made, 168 Monopolized industries and speculation, 169 How monopolies reduce the income of small capitalists, 170 Monopolies the cause of over-production, 171 Monopolies and poverty, 173 The Church and the laboring classes, 173 Intemperance, 174 Reforms must go hand in hand, 174 How monopolies keep men in idleness, 175 The waste of competition, 176 Waste due to parallel railway lines, 177 The waste of competition and financial crises, 178 Wasteful competition in other industries, 179 Waste by strikes of labor monopolies, 180 False remedies for the disease, 181.