10. The contribution of American industry to the winning of the war. W. F. Willoughby, Government Organization in War Time and After, pp. 67-120.
Questions
1. Show why the rise of the factory system is entitled to be called a “revolution.” Are people better or worse off as a result?
2. “Machinery has made life more varied,” “Machinery has reduced life to routine.” With which of these statements do you agree and why?
3. Make a diagram showing how a corporation is organized. If you owned one or more shares in a corporation, what would be your rights? Your duties? Your risks? What is meant by the statement that a corporation has “legal immortality”?
4. What is the difference between a pool, a trust, a holding company, and a merger? Is it better to forbid these things or to regulate them?
5. Why is it that the Chicago meat-packing concerns have been able to sell dressed meat to marketmen in the towns of the Eastern states more cheaply than it can be procured and slaughtered locally?
6. Explain what President Roosevelt meant when he said that there are good trusts and bad trusts. What service can a good trust perform? What harm can a bad trust do?
7. What are the chief provisions of the Sherman Law? The Clayton Act?
8. Show how regulation by a commission is likely to be more effective than regulation by law.