The impending crisis

by Basil A. Bouroff

MONOPOLY IN PRIVATE HANDS.

“A monopoly in industry may be defined as the control of some natural agent, of some line of business, or of some advantage over existing or possible competitors, by which greater profits can be secured than other competitors can make.”[^[181]]

All these definitions indicate that the private monopolies and combinations have one and the same purpose or end in view: It is to find such devices and means and to establish such organization of business activity, which will enable the organizers and managers to obtain from the people the greatest profits for the least cost, thus concentrating the people’s wealth in a few hands without paying anything to the people in return.