1. A Machine differentiated from a Tool. 2. Machinery in Relation to the Character of Human Labour. 3. Contributions of Machinery to Productive Power. 4. Main Factors in Development of Machine Industry. 5. Importance of Cotton-trade in Machine Development. 6. History refutes the "Heroic" Theory of Invention. 7. Application of Machinery to other Textile Work. 8. Reverse order of Development in Iron Trades. 9. Leading Determinants in the General Application of Machinery and Steam-Motor. 10. Order of Development of modern Industrial Methods in the several Countries--Natural, Racial, Political, Economic. CHAPTER IV. THE STRUCTURE OF MODERN INDUSTRY 88 1. Growing Size of the Business-Unit. 2. Relative Increase of Capital and Labour in the Business. 3. Increased Complexity and Integration of Business Structure. 4. Structure and Size of the Market for different Commodities. 5. Machinery a direct Agent in expanding Market Areas. 6. Expanded Time-area of the Market. 7. Interdependency of Markets. 8. Sympathetic and Antagonistic Relations between Trades. 9. National and Local Specialisation in Industry. 10. Influences determining Localisation of Industry under World-Competition. 11. Impossibility of Final Settlement of Industry. 12. Specialisation in Districts and Towns. 13. Specialisation within the Town. CHAPTER V. THE FORMATION OF MONOPOLIES IN CAPITAL 117 1. Productive Economies of the Large Business. 2. Competitive Economies of the Large Business. 3. Intenser Competition of the few Large Businesses. 4. Restraint of Competition and Limited Monopoly. 5. Facilities for maintaining Price-Lists in different Industries. 6. Logical Outcome of Large-Scale Competition. 7. Different Species of "Combines." 8. Legal and Economic Nature of the "Trust." 9. Origin and _Modus Operandi_ of the Standard Oil Trust. 10. The Economic Strength of other Trusts. 11. Industrial Conditions favourable to "Monopoly" CHAPTER VI. ECONOMIC POWERS OF THE TRUST 143 1. Power of a Monopoly over earlier or later Processes in Production of a Commodity. 2. Power over Actual or Potential Competitors. 3. Power over Employees of a Trust. 4. Power over Consumers. 5. Determinants of a Monopoly Price. 6. The Possibility of low Monopoly Prices. 7. Considerations of Elasticity of Demand limiting Prices. 8. Final Summary of Monopoly Prices. CHAPTER VII. MACHINERY AND INDUSTRIAL DEPRESSION 167