In so far, indeed, as the constructive
industrial leader is actuated merely by the motive of amassing more
millions than can be of any possible use to himself or his children--in
so far as such is the case, the inducement to American industrial
organization on a national scale would be impaired. But if an economic
democracy can purchase efficient industrial organization on a huge scale
only at the price of this class of fortunes, then it must be content
with a lower order of efficiency, and American economic statesmanship
has every reason to reject such an alternative until there is no help
for it. The best type of American millionaire seems always to have had
as much interest in the work and in the game as in its prodigious
rewards; and much of his work has always been done for him by employees
who, while they were paid liberally, did not need the inducement of more
money than they could wholesomely spend in return, for service of the
highest efficiency.
In any event the plan of an automatically regulated recognition of
semi-monopolistic corporations would be intended only as a transitional
measure.
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