Word: statistics
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Dates: during 1954-1954
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...traditional pro-capitalist answers the statist by asserting that the essential limitation upon corporate power is exercised by what "economists refer to as the 'judgment of the market place' . . . which was assumed to be a powerful controlling factor. By declining to provide capital, it could, in theory, check overexpansion, could favor enterprises which the country needed most . . ." But Berle does not believe that the judgment of the market place plays this part in contemporary U.S. capitalism. The modern corporation is strong enough to ignore the judgment of the market. The spectacular fact is that most...