Show An Important Opinion II IIAn T The modern public service cor- cor corporation cor with its stock owned by b I byI tens of thousands of people many of oli I them wage earners producing and selling se a primary ne necessity of life n a monopoly in fact is essentially so- so socialized says sas John Spargo o formerly a leadin leading radical in an article in Na- Na Nation's Nation's Nations Nation's tion's Business called Why I am amNo amNo anNo No Lon Longer er a Socialist Social safe safeguards ards have Rave been placed placed ed around its every operation Social So- So Social Social cial control of the e of its corporate stock and its bonds and nn I debentures safeguard the investor and eliminate from ono of the de- de departments departments departments of our economic ilfe thos thoro forms of speculation and manipulation manipulation tion which in the days of Karl Marx were among the greatest instruments of economic oppression Similar social safeguards have been erected for th protection of th the tho s The cost of service is fix fix- fixed fix i cd ed by public commissions I and must not be increased without I their authorization Similarly max- max maximum rate rates of profit are arc decreed d Take the electric light and pow pow- power power power I er industry as an example of this neW type of capitalism Electric capitalism light and power is the cheapest of all the necessities embraced in the family bud budget et as every cry candid think think- thinker thinker thinker er must admit Here lIere is an example of the social social- socialized socialized socialized individualism of our present system system tem Retaining the essential form of capitalism tho the incentive and opportunity for individual enrichment enrich enrich- enrichment enrichment ment through h thrift and prudent in- in investment investment in investment vestment we have provided a l com com- common common mon service which has enormously light lightened ned the labor of the house house- keeper housekeeper made the home homo bri brighter and happier at a cost incredibly low without oppressing or exploiting anybody |