er recklessness or carelessness or
greed destroys good will.

_Nationalization of industry._--A somewhat popular suggestion in solution
of labor difficulties is the so-called nationalization of industry. This,
in general terms, is a proposition to equalize compensation and avoid
fluctuation in both wages and employment by public control of all
industries under official management. While this involves some principles
of socialism, more properly discussed in connection with consumption of
wealth, its relations to productive industry may be briefly presented
here. The plans proposed are as yet expressed only in most general terms.
Even the method of bringing about such a revolution of thought, feeling
and action has not been devised. Still less ready is anyone to point out
the details of a plan for the actual production. The nearest associated
ideas are found in governmental services through a post office department
or the management of a system of transportation. Most advocates of the
method overlook the fact that in such government administration of partial
industries the law of competition is still operative between these
enterprises and the universal industry of the people.

The difficulties in governmental management under present conditions are
anything but small, especially under popular rule, where the dominion of
party and the influence of position are all-powerful. Under monarchial
rule the organization of such industries becomes like that of an army, in
which arbitrary power predominates. It seems easy to see that any effort
to solve the problems of labor employment by national control involves
finally the arbitrary decision of power, in adjustment of both duties and
compensation. The management by officials, however those officials are
appointed, is not necessarily wiser, more efficient or more benevolent
than the management by interested men, whose life is in natural contact,
through business relations, with employes. Those who have had experience
with official control under popular government are not likely to expect a
readjustment of all interests from the standpoint of politicians to be
marked by either universal good will or universal common sense. It is
reasonable to suppose that wherever general welfare in actual use of
wealth can be best promoted by public control, such control will come
through the free exercise of individual judgment with reference to the
work in hand. While there ought to be no objec