Where And Why Public Ownership Has Failed

Officials. 5. Invidia Democratica?Appeal to Party Passions.?Pur chase of the Railways.?The Purchase of the Western Line.?Socialization a Political Necessity. 6. Financial Aims and Hypocritical Excuses.?Pretexts and Realities.?The Alcohol Monopoly in Switzerland and Potatoes.?The Alcohol Monopoly in Russia, Temperance and Fiscal Laws. 1. When one or more individuals invest their energy, their knowledge, and their capital in an industrial enterprise they must be convinced beforehand that in so doing they are responding to a demand on the part of a group of consumers having a sufficient purchasing power to repay them for their services, as well as for the products which will be offered. If the estimates of the founders of such an enterprise are correct, they will gain; if incorrect, they will lose. In either case they will bear the responsibility for their acts. Gain or loss is the inevitableand infallible consequence of every such enterprise. And, as every man who is on the point of engaging in business knows that one of them must occur, his energy is spurred on by the hope of the one, while at the same time it is being curbed by the fear of the other. The industrial and commercial progress of all nations far advanced along the pathway of evolution proves that the majority of those individuals or groups of individuals who have engaged in business undertakings have calculated accurately. 2. Statesmen at the head of nations or muni... --This text refers to an alternate Paperback edition.