Frank A. (Frank Albert) Fetter.

Manual of references and exercises in economics for use with volume II. Modern economic problems online

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8. Is it good public policy to allow a trust to undersell its smaller
competitor in one district while it keeps up its prices elsewere?

9. Are most positive laws intended to hinder competition or make
it freer?

10. Copy from the statutes of two states far apart, those sections
that pertain to anti-trust or anti-monopoly legislation. Note the
general nature of this legislation, special features, penalties for viola-
tions, etc., and discuss.

11. What are the main provisions in one of the following: (a)
Sherman Anti- Trust Law, (b) Massachusetts Business Corporation
Law, (c) The New Companies' Acts, England, (d) German Company
Law.

12. Abstract and discuss the Northern Securities decision. Do you
see any arguments to be advanced for pooling? Do you think the
decision effective in stopping pooling? Ripley (Ed.), Trusts, pools
and combinations.



CHAPTER 30
PUBLIC OWNERSHIP

REFERENCES.

Bemis, E. T^"., (Ed.), Municipal monopolies. 1899.

Brooks, R. C., Municipal Affairs, 5: 1-346. 1901. (An exhaustive
and well-arranged bibliography on all aspects of municipal prob-
lems.)

Dewsnup, E. R., The attitude of the state toward railways, a dis-
cussion of the question of nationalization. A. E. Assn. Bui., 4th

Fairlie, J. A., Recent extensions of municipal functions in the
ser., 1, no. 2: 175-187. 1911. (Vol. of Papers and discussions.)
United States. A. A. A., 25: 299-310. 1905.

Guyot, Yves, Where and why public ownership has failed. Trans,
by H. F. Baker. 1914.

Knapp, M. A., Government ownership of railroads. A. A. A.,
19:61-73. 1902.



AND EXERCISES IN ECONOMICS 57

National Civic Federation, Report on municipal and private opera-
tion of public utilities. 1907. 3 vols. (A monumental study by
an American delegation, which visited many cities of Europe and
America; favorable, in the main, to extension of municipal owner-
ship. )

Winchell, B. L., Drift toward government ownership of railways.
Atlan. Mo., 110: 747-758. 1912.

QUESTIONS.

1. Does every government enterprise necessarily narrow the field
for private enterprise and diminish the amount of competition?

2. What forms of state activity favor survival of unfit men and
bad traits of character? What forms help the fittest to survive?

3. What are municipal franchises? Where are they?

4. Why does the public consent to grant patents or public fran-
chises ?

5. What kinds of municipal industries have you seen in operation ?
How successful were they?

6. What are the main arguments for and against the city owner-
ship and control of gas and waterworks? What troubles arise from
city politics?

7. Name the industries that are owned and controlled by towns
and cities of which you have a personal knowledge.

Which of them are most satisfactory in your judgment? Which
the least so?

8. What is the public sentiment in your home community as to
the ownership of industries by the town or city?



CHAPTER 31
SOME ASPECTS OF SOCIALISM

REFERENCES.

Brooks, J. G., The problem of syndicalism. A. E. Rev., 4 (no. 1,
supp.) : 115-130. 1914. Round table discussion of above, 131-157.

Clark, J. B., Social justice without socialism. 1914.

Ensor, R. C. K., (Ed.), Modern socialism. 2d ed., 1907. (Selec-
tions from socialistic sources.)

Gladden, Washington, Tools and the man. 1893. (One example of
a large number of American books appealing for the application
of Christian ethics to social questions.)

Hillquit, M., History of socialism in the United States. 1903.



58 MANUAL OF REFERENCES

Hillquit, M., Socialism in theory and practice. 1909.

Hinds, W. A., American communities. 2d ed., 1908. (Describes
many experiments, all failures; by a sympathizer with socialism.)

Kirkup, T., Inquiry into socialism. 3d ed., 1907. (A sympathetic,
but not a partizan statement.)

Lockwood, G. B., The New Harmony movement. 2d ed., 1907.

Martin, John, An attempt to define socialism. A. E. Assn. Bui., 4th
ser., 1 (no. 2) : 347-354. 1911. Round table discussion of above,
355-367.

Menger, A., The right to the whole produce of labor. Trans. 1899.
(Masterly criticism.)

Rae, John, Contemporary socialism. 3d ed., 1901. (Standard work
by a non-socialist.)

Schaeffle, A., The quintessence of socialism. Ed., 1898. (Exposi-
tion by a non-socialist, so favorable that it is used by the social-
ists as a tract.)

Spahr, C. B., Present distribution of wealth in the United States.
1896.

Spargo, John, Socialism. 1906. (Pro.)

Walling, W. E., Socialism as it is. 1912. (Pro.)

Walling, W. E., and others, The socialism of to-day. 1916. (A
source book.)

Watkins, G. P., Growth of large fortunes. 1907.

Wells, H. G., New worlds for old. 1908. (An appeal for juster
distribution; Fabian school.)

QUESTIONS.

1. In the last analysis is there anyone retired capitalist or un-
skilled day-worker whose title to the real income he receives is
derived solely from the property he owns, or solely from the labor
he performs?

2. What is it to earn a living? How many people do it?

3. If capital is needed in production why is the question of justice
raised when its use is paid for?

4. What is the doctrine of economic harmonies? Give three exam-
ples (distinct in kind) in modern legislation which run counter to this
doctrine, with the justificaton for each of these.

5. Define charity. Apply the general principles of charity to free
schools, free libraries, and free clothing to school children.

6. What is economic freedom? How different from political free-
dom?



AND EXERCISES IN ECONOMICS 59

7. Is custom a better regulator of economic action than competi-
tion?

8. What are vested rights? Do they ever stand in the way of
progress ? Examples.

9. Distinguish between the socialistic and the competitive princi-
ples of distribution.

10. What classes of thinkers are most inclined to take up socialism?
(Classes considered socially, industrially, as to race, as to economic
and historical training.)

11. If socialism reduced the total product, would it still be desirable
because of the better distribution?

12. What effect would it have if the state should make laborers
work for unsuccesful employers at lower wages than for successful
ones ? Or should reduce rents for the less capable merchants and
manufacturers ?

13. Is there any rule for determining the limits of state interfer-
ence ?

14. If you had the power, what single public measure that you be-
lieve would be practicable and effective would you put on the statute
books, in order to make a juster division of the social income? Give
reasons.

15. The wealth of the United States increased from $7,000,000,000
in 1850 to $188,000,000,000 in 1912. How was this wealth distributed
according to (a) the socialistic theory of value? (b) the single tax
theory? (c) the theory of value under competitive conditions?

16. What are the chief ways in which the rule of competitive value
has been nullified in this period.

17. Would socialism guarantee steadiness or regularity in economic
activity, thus eliminating the phenomena of economic crises and
depressions?

18. In what way does taxation now shift the distribution of real in-
comes as among persons? By what other methods and in what degree
could such taxation be extended?



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Online LibraryFrank A. (Frank Albert) FetterManual of references and exercises in economics for use with volume II. Modern economic problems → online text (page 5 of 5)