Production Control Program for February Meeting

THIS announcement of the topics relating to production control, which the Committee hopes to have discussed at the February meeting, supplements the preliminary announcement published in the November number of MINING AND METALLURGY. In the previous article, the writer indicated the kaleide-scopic nature of the questions involved in obtaining better coordination in industry, and that, as a matter of practical expediency, the discussion in February would be limited to the more obvious difficulties in industry which need attention and to those questions which the Committee thinks would be of greatest interest to members of the Institute. But while practical considerations necessitate limiting the program, free discussion of all phases of the subject is urged by 'the Committee. In a preliminary consideration of the production control problem, there loom up two questions which have to be faced: (1) First, there is the question of the extra industrial capacity necessary to meet demand during the ordinary fluctuations of business, commonly characterized as `the "business cycle." Anyone who tries to formulate a program pertaining to productive capacity must decide whether he wishes to discuss the control of business cycles. While this question may eventually lend itself to treatment, the Committee does not feel that it can be considered at present with much profit. (2) The second question arises from the existence of over-stimulated capacity above and beyond peak demands in boom times. Discussion of this topic, it is felt, would be most fruitful. How to prevent capacity from being over-stimulated to an extent beyond any hope of possible demand is a