Heavy industry

Definition and stakes

Portrait of James Ramsay MacDonald James Ramsay MacDonald,  The Socialist Movement (1911)

“ Old work-places are closed, production is regulated and organised, profits are guaranteed when works are idle, economies in management are effected, processes of manufacture are specialised and differentiated. The waste involved in competitive industry is enormous, and the sheer force of circumstances is tending to eliminate it.
4. Waste of Labour.
One further consideration must be noted. We have seen that the private ownership of land and capital is a serious drain upon national wealth and a heavy burden upon national production.
”
Source: Wikisource

Portrait of Carl Schurz Carl Schurz,  Speeches, correspondence and political papers of Carl Schurz (1913)

“ And, moreover, there was no confused mass of high-tariff duties, protecting one industry at the expense of another, and hampering manufacturing production itself with complicated burdens and impediments. I repeat, the manufacturing industries had a clear field before them; their growth was healthy, their spirit self-reliant; and therefore they flourished, not needing more protection and not wishing it. ”
Source: Wikisource

Get perspective with Kwize: daily news enlightened by great literature