HENRY C. SIMONS

Surely there is something unlovely, to modern as against medieval minds, about marked inequality of either kind income or power.

Private property in the instruments of production is an institutional device both for dispersing power and for securing effective organization of production. The only simple property system is that of a slave society with a single slave owner - which, significantly, is the limiting case of despotism and of monopoly. Departure from such a system is a fair measure of human progress.

Eliminate all forms of monopolistic market power, to include the breakup of large oligopolistic corporations and application of anti-trust laws to labor unions. A Federal incorporation law could be used to limit corporation size and where technology required giant firms for reasons of low cost production the Federal government should own and operate them.

Attempting mischievous and salutary irritation of his peers ... Keynes may only succeed in becoming an academic idol of our worst cranks and charlatans - not to mention the possibilities of the book as the economic bible of a fascist movement.

The libertarian good society lies... in the maximum dispersion of property compatible with effective production or, as process, in progressive reconciliation of conflicts between equality and efficiency. Such process involves increasing dispersion both of wealth among persons and families and of proximate productional control among enterprises or firms.

Eliminate all forms of monopolistic market power, to include the breakup of large oligopolistic corporations and application of anti-trust laws to labor unions. A Federal incorporation law could be used to limit corporation size and where technology required giant firms for reasons of low cost production the Federal government should own and operate them.

Surely there is something unlovely, to modern as against medieval minds, about marked inequality of either kind income or power.

Private property in the instruments of production is an institutional device both for dispersing power and for securing effective organization of production. The only simple property system is that of a slave society with a single slave owner - which, significantly, is the limiting case of despotism and of monopoly. Departure from such a system is a fair measure of human progress.

The libertarian good society lies... in the maximum dispersion of property compatible with effective production or, as process, in progressive reconciliation of conflicts between equality and efficiency. Such process involves increasing dispersion both of wealth among persons and families and of proximate productional control among enterprises or firms.

Attempting mischievous and salutary irritation of his peers ... Keynes may only succeed in becoming an academic idol of our worst cranks and charlatans - not to mention the possibilities of the book as the economic bible of a fascist movement.