Democratic
societies from the earliest times have expected their governments to protect
the weak against the strong. No 'era of good feeling' can justify discharging
the police force or giving up the idea of public control over concentrated
private wealth. On the other hand, it is obvious that a spirit of self-denial
and moderation on the part of those who hold economic power will greatly soften
the demand for absolute equality. Men are more interested in freedom and
security than in an equal distribution of wealth. The extent to which
Government must interfere with business, therefore, is not exactly measured by
the extent to which economic power is concentrated into a few hands. The
required degree of government interference depends mainly on whether economic
powers are oppressively used, and on the necessity of keeping economic factors
in a tolerable state of balance.
