Monopolies that are not dissolved must immediately come under direct state administration, i.e., be nationalized. A monopoly can by run just as well by the state as by private industry. State control, however, assures that the profits benefit the nation, not finance capital.
Stock companies must be placed under state supervision, which will largely follow the model of bank control (see section G 1).
Objection: Any state intervention is harmful.
Response: State intervention, on the contrary, is necessary to protect the economy from the worst damage by the interests of finance capital. State intervention has gotten a bad reputation only because the Marxist parties always intervened in the wrong places. Although the state can administer monopolies much better than private industry, the Marxists gave them over to finance capital (the Dawes and Young Plans gave away the former German Railroad, the match monopoly was given to the big capitalist swindler Kreuger by the Social Democratic Minister of Finance Hilferding), whereas countless unnecessary government concerns were maintained that only competed with craftsmen and manufacturers, producing goods much more expensive and of lower quality than those of private industry.