ncreased Complexity and Integration of Business
Structure.
4. Structure and Size of the Market for different
Commodities.
5. Machinery a direct Agent in expanding Market Areas.
6. Expanded Time-area of the Market.
7. Interdependency of Markets.
8. Sympathetic and Antagonistic Relations between Trades.
9. National and Local Specialisation in Industry.
10. Influences determining Localisation of Industry under
World-Competition.
11. Impossibility of Final Settlement of Industry.
12. Specialisation in Districts and Towns.
13. Specialisation within the Town.

CHAPTER V.

THE FORMATION OF MONOPOLIES IN CAPITAL 117

1. Productive Economies of the Large Business.
2. Competitive Economies of the Large Business.
3. Intenser Competition of the few Large Businesses.
4. Restraint of Competition and Limited Monopoly.
5. Facilities for maintaining Price-Lists in different
Industries.
6. Logical Outcome of Large-Scale Competition.
7. Different Species of "Combines."
8. Legal and Economic Nature of the "Trust."
9. Origin and _Modus Operandi_ of the Standard Oil Trust.
10. The Economic Strength of other Trusts.
11. Industrial Conditions favourable to "Monopoly"

CHAPTER VI.

ECONOMIC POWERS OF THE TRUST 143

1. Power of a Monopoly over earlier or later Processes in
Production of a Commodity.
2. Power over Actual or Potential Competitors.
3. Power over Employees of a Trust.
4. Power over Consumers.
5. Determinants of a Monopoly Price.
6. The Possibility of low Monopoly Prices.
7. Considerations of Elasticity of Demand limiting Prices.
8. Final Summary of Monopoly Prices.

CHAPTER VII.

MACHINERY AND INDUSTRIAL DEPRESSION 167

1. The external phenomena of Trade Depression.
2. Correctly described as Under-production and
Over-production.
3. Testimony to a general excess of Productive Power over the
requirement for Consumption.
4. The connection of modern Machine-production and Depression
shown by statistics of price.
5. Changing forms in which Over-supply of Capital is
embodied.
6. Summary of economic relation of Machinery to Depression.
7. Under-consumption as the root-evil.
8. Economic analysis of "Saving."
9. Saving requires increased Consumption in the