In the case of public utilities of a standard kind, into which the
element of buying and selling profits does not greatly enter, we should
endeavour to start the experiment of putting representatives of the
workpeople on the boards of directors, but in carefully selected cases,
and not as a general rule. My own view is that if we are ready with the
machinery of investigation, and are prepared to deal in these ways with
public utilities at home where foreign competition is absent, we have
little to fear from trusts.


DISTRIBUTION

As regards distribution and wages, in the first place we should adhere
to our traditional policy, developing the system of differential and
graduated taxation, and we should be prepared, if unequal distribution
of wealth continues, to limit further the right of inheritance. This is
not a new Liberal doctrine: it is many decades old. On the question of
wages we have to recognise that unless we can secure an increase in
terms of food and other commodities of the national production the State
cannot radically modify the general standard of living in the country;
or by administrative action raise the level of wages which economic
conditions are imposing on us. But the State can and should enforce a
minimum in certain industries, provided that minimum is reasonably in
harmony with the competitive level of wages. Such action can prevent
workers whose economic position is not a strong one--and this applies
particularly to many women's employment--from being compelled to accept
wages substantially less than the current standard. I therefore welcome
the gradual extension of the Trade Board system, provided it follows the
general principle recommended in the Cave Report--that the community