Courts -- United States; Revolutions; United States -- Politics and government
The presence of monopolistic prices in trade is not always a result of
conscious agreement; more frequently, perhaps, it is automatic, and is
an effect of the concentration of capital in a point where competition
ceases, as when all the capital engaged in a trade belongs to a single
owner. Supposing ownership to be enough restricted, combination is
easier and more profitable than competition; therefore combination,
conscious or unconscious, supplants competition. The inference from the
evidence is that, in the United States, capital has reached, or is
rapidly reaching, this point of concentration; and if this be true,
competition cannot be enforced by legislation. But, assuming that
competition could still be enforced by law, the only effect would be to
make the mass of capital more homogeneous by eliminating still further
such of the weaker capitalists as have survived. Ultimately, unless
indeed society is to dissolve and capital migrate elsewhere, all the
present phenomena would be intensified. Nor would free trade, probably,
have more than a very transitory effect. In no department of trade is
competition freer than in the Atlantic passenger service, and yet in no
trade is there a stricter monopoly price.
The same acceleration of the social movement which has caused this
centralization of capital has caused the centralization of another form
of human energy, which is its negative: labor unions organize labor as a
monopoly. Labor protests against the irresponsible sovereignty of
capital, as men have always protested against irresponsible sovereignty,
declaring that the capitalistic social system, as it now exists, is a
form of slavery. Very logically, therefore, the abler and bolder labor
agitators proclaim that labor levies actual war against society, and
that in that war there can be no truce until irresponsible capital has
capitulated. Also, in labor's methods of warfare the same phenomena
appear as in the autocracy of capital. Labor attacks capitalistic
society by methods beyond the purview of the law, and may, at any
moment, shatter the social system; while, under our laws and
institutions, society is helpless.
Public-domain text, read in full here on John Shaqi.
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