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the policies of the Federal Government will have to be. tailored to the requirements of the dominant corporations, or economic collapse will ensue. ' ■
Even if we accept small business as that with assets of less than $1 .(MX),000, the figures show that over the past four years, profits, after taxes, of small manufacturing firms declined 13 per cent, while those of the larger maufacturers were increasing 45 per cent. The return on stockholders’ investment was down 4 per cent for small business, but up 11 per cent for big business. Small business sales were down 6 per cent, and big business sales were up 15 per cent.
If we consider manufacturers with assets undar $250,000, profits, after taxes declined 28 per cent in the four year period ending last year, return on stockholders’ return, 14 per cent, and sales, 28 per cent.
A recent Congressional study of concentrations of economic power gave particular attention to the General Motors Corporation which is the largest manufacturing business in the world. While some of the conclusions in the report of this study certainly are open to question, the document teJJs a striking story of how bigness, through no evil nn itself, can lead, in some cases, to a degree of economic power having a potential of extinguishing competition, partly through the ability to absorb at will by purchase, a tactic available only to businesses of great relative wealth.
Although we ordinarily think of General Motors as the principal manufacturer of motor cars and trucks, it has become, also, a major producer of home appliances, a dominant producer of busses and diesel locomotives and an important manufacturer of road-building and other heavy construction equipment. It also operates a huge financing and insurance: business.
While the profits of this company have been high, many of its dealers, particularly in the motor car field, have complained of in
55.5%