Sugar and Wool

Edward F. Renshaw

The ANNALS of the American Academy of Political and Social Science, 1960, vol. 331, issue 1, 74-78

Abstract: The production of sugar and wool in this country is encouraged by protective devices which illustrate the peculiar vulnerability of the democratic process to a well-organized, dis persed interest. In pursuing their own narrow interest both groups have unintentionally fostered competition from substi tutes which could destroy large segments of their respective industries. Spectacular growth in the consumption of synthetic fibers and the development of a variety of artificial sweeteners suggest that even the most cleverly organized monopolies are threatened by technological progress. The consumer who has been taxed by the sugar and wool interests may gain more in the long run than the producers who must adjust to a kind of competition for which the best protection is no protection.

Date: 1960
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Persistent link: https://EconPapers.repec.org/RePEc:sae:anname:v:331:y:1960:i:1:p:74-78

DOI: 10.1177/000271626033100114

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