The Remedies of Trusts

Cover The Remedies of Trusts
The Remedies of Trusts
John Bascom
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Competition, once regarded as the sufficient remedy for combina- tion and exaction, has been found to be somewhat less universally applicable than was supposed. We are now in danger in turn of underrating it, both in its intrinsic importance and in its corrective power. The possibility of competition means the preservation of liberty. If one is excluded from taking part in one and another form of production, he so far loses a central portion of his rights. In the triplet, "life, liberty, and th
...e pursuit of happiness, " an essen- tial part is liberty, liberty in all the productive opportunities of life. Shorten in one's liberty, and to that degree you render nugatory the other two, life and the pursuit of happiness. Unre- strained competition stands for unrestrained powers, and the pros- perity that goes with them.
The immediate purpose of protective duties is to restrain competi- tion, and build a wall around protected interests. We start in excluding the competition of the foreigner.

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