The house of Industry : a new estate of the realm

FOREWORD xix

economic affairs. These new bodies are the ulegitimate children of parliamentary Socialism, which bears so little resemblance to Socialism as almost to deserve the name of State Capitalism. Almost, but not quite: for real State Capitalism would not tolerate the emergence of independent concerns, free from all control, answerable to no Minister and therefore not amenable to Parliament in matters of policy and administration. This is the state of affairs in regard to these new bodies which our unreflecting politicians are happily intent upon bringing into existence. The indications are that a decade of legislation under Labour Governments will give us a whole group of independent corporations of this type, administering railway and road transport, electricity supply, the cotton textile industry, the iron and steel industry, the mining industry, and probably others. These concerns will not be, as the Post Office organisation is, under Parliamentary control, administered by Government departments, and with responsible Ministers at their head. If the proposed new passenger transport authority in London is to be taken as a model, questions of wages and conditions of employment will be handled by these new bodies in exactly the same way as any powerfully organised capitalistcontrolled industry handles them now. Trade Unions will negotiate with these boards of commissioners as they now negotiate with employers’ organisations; and the policy of the boards in dealing with the Unions cannot be any more