The Sherman Act and Production Control

THE demand for "production control" has, like the poor, been with us always. With the development of the nation, the accumulation of business experience, and a maturing understanding of how our many and varied industries work, it is increasingly evident that an uncontrolled output is a source of great mischief and that order and performance demand a control of production. To see clearly the demand for "production control" we must look in detail at the ways in which industries operate. General pictures, grand aggregates, situations as "wholes," and smoothed curves are likely to be deceptive. An industry may seem to keep the even tenor of its ways, and yet the establishments which made it up may experience a great range of fortunes. A nice bundle of statistics may show in the aggregate a lovely regularity which is not shared by the firms which make up a trade. An industry may appear to be reasonably profitable, and yet the profits may be very unevenly distributed. The people in an industry, and dependent on it, are managers, laborers, stockholders, creatures of flesh and blood, such as you and I. General pictures and abstract statements must not blind us to what is happening to firms, corporations and individuals.