There Was Something Superficial In Attributing Anything

There Is An Old Saying, Or Should Be, That It Is A Wise Economist Who Recognizes The Scope Of His Own Generalizations.

Oligopoly Is An Imperfect Monopoly. Like The Despotism Of The Dual Monarchy, It Is Saved Only By Its Incompetence.

And There Was A Deeper, Less Visible Effect Of The Truman Loyalty Program. Seeing Its Consequences For Certain Individuals And Fearing Its Intrusion On Their Own Lives, Many In The Government Sought Protection By Strongly Asserting Their Anti-communism. In The Public Action That Ensued, Policy Was Based Not On Reality But, Instinctively Or Deliberately, On Personal Caution...those Who Urged A Militant And Sometimes Military Anti-communism Were Considered Sound, Trustworthy And Personally Safe; Those Who Questioned Such A Course Were Politically Unsafe, Possible Even Slightly Disloyal.

It Was Not Hard To Persuade People That The Market Was Sound; As Always In Such Times They Asked Only That The Dispiriting Voices Of Doubt Be Muted And That There Should Be Tolerably Frequent Expressions Of Confidence.

The Size Of General Motors Is In The Service Not Of Monopoly Or The Economies Of Scale But Of Planning.