slight if any immediate service to the community. Such advertising, however, is indispensable to most branches of modern industry ; but the necessity of moat of the advertising is not due to its serving the needs of the community nor to any aggregate advantage accruing to the concerns which advertise, but to the fact that a business concern which falls short in advertising fails to get its share of trade. Each concern must advertise, chiefly because the others do. The aggregate expenditure that could advantageously be put into advertising in the absence of competition would undoubtedly be but an inconsiderable fraction of what is actually incurred, and necessarily incurred under existing circumstances.^
Not all advertising is wholly competitive, or at least it is not always obviously so. In proportion as an enterprise has secured a monopoly position, its advertising loses the air of competitive selling and takes on the character of information designed to increase the use of its output independently. But such an increase implies a redistribution of consumption on the part of the customers." So that the element of competitive selling is after all not absent in these cases, but takes the form of competition between different classes of wares
Cf. Jenks, The Trust ProW^m, pp. 21-28; B^>oH of tht Induttrlal Commiuion, vol. XIX. pp. 611-612.
D-BAwerk, Fotilitie Theory of Capital, bk in., oh. V., TIl.-IX., on the value of alteniatiTe and com piemen larj gooda.
8TTSIKES3 EMTERPEISt