Chapter I

scope of these business principles. The housewife's work, e.g., aa well as some appreciable portion of the work on farms and in some handicrafts, can scarcely be classed as business enterprise. But those elementa in the industrial world that take the initiative and exert a far-reaching coercive guidance in matters of industry go to their work with a view to profits on investment, and are guided by the principles and exigencies of busines.^. The business man, especially the business man of wide and authoritative discretion, has become a controlling force in industry, because, through tlie mechanism of investments and markets, he coutrols tlie plants and processes, and these set the pace and determine