The view here spoken for, that the modern businessman is necessarily out of effectual touch with the affairs of technology as such and incompetent to exercise an effectual surveillance of the processes of industry, is not a matter of bias or of vague opinion; it has in fact become a matter of statistical demonstration. Even a cursory survey of the current achievements of these great modern industries as managed by businessmen, taken in contrast with the opportunities offered them, should convince anyone of the technological unfitness of this business management of industry. Indeed, the captains of industry have themselves latterly begun to recognise their own inefficiency in this respect, and even to appreciate that a businessman’s management of industrial processes is not good even for the business purpose--the net pecuniary gain. And it is all the more ineffectual for the purposes of workmanship as distinct from the businessmen’s gains. So, a professional class of “efficiency engineers” is coming into action, whose duty it is to take invoice of the preventable wastes and inefficiencies due to the business management of industry and to present the case in such concrete and obvious terms of price and percentage as the businessmen in charge will be able to comprehend. These men, in a way, take over the functions assigned in economic theory to the “entrepreneur;” in that they are men of general technological training and insight, who go into their inquiry on the ground of workmanship, take their data in terms of workmanship and convert them into terms of business expediency, somewhat to the same purpose as the like work of conversion was done by the owner-employers under that small-scale system of industrial enterprise from which the current theoretical concept of the “entrepreneur” was derived. It is then the duty of these efficiency engineers to present the results so obtained, for the conviction and guidance of the businessmen in charge, who thereupon, if their business training has left them enough of a sense of workmanship, will give permissive instructions to the expert workmen in direct charge of the industrial processes to put these statistically indicated changes into effect. It is the testimony of these efficiency engineers that relatively few pecuniary captains in command of industrial enterprises have a sufficient comprehension of the technological facts to understand and accept the findings of the technological experts who so argue for the elimination of preventable wastes, even when the issue is presented statistically in terms of price. These men go about their work of ascertaining the efficiency, actual and potential, of any given plant, process, working force, or parcel of material resources, by the methods of precise physical measurement familiar to mechanical engineers, and as an outcome they have no hesitation in speaking of preventable wastes amounting to ten,