258 INDUSTRIAL REVOLUTION AND WAGES

brought about under war conditions might at least be approached.

I am inclined to think that most men who have thought
about the matter would accept the ideal pointed out by Mr.
Javits as something desirable of accomplishment, but its accomplishment
 will perhaps be disappointingly slow unless
some serious economic or industrial condition should arise
making drastic and immediate action necessary, and I assume
we would all prefer to see the change brought about in a
more orderly and well-considered way.
Professor Irving Fisher expressed his agreement with
Mr, Javits’ ideas, but stated that it would be very difficult
to work out the proper governmental machinery of supervision,
 His comment, in part, was as follows:

It is undoubtedly true, as pointed out by Mr. Javits, that
the Sherman Anti-Trust Law, with its amendments, does
limit the freedom of industrial enterprise and, by preventing
or limiting combination, does prevent the complete realization
of economies due to large-scale production.
I am in agreement with Mr. Javits’ plea for a revision of
the Federal Anti-Trust laws. Such revision should permit
American business men to perfect the organization of their
industries so as to produce more economically and to sell
their products at lower prices. This does not mean wiping
the statute books clean of legislation to control combinations
and protect consumers. Quite the contrary. It means simply
to change the purpose and intent of legislation by doing away
with the needless handicaps, which now hang like clogs upon
the wheels of industry, and to concentrate attention upon the
supervision and control of bigger and more economical business
 organizations, so as to prevent exploitation of consumers
hy these powerful organizations. . . .
While, in principle, I agree with Mr. Javits in his contention
 for removing restrictions upon business combinations
with a corresponding increase in the supervision of corporate
 activities and accounting, I realize the very great