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It has been casual, to the point of recklessness, about the positive development of its own authority. But actually, as Laski has pointed out, "The disproportion in America between the actual economic con- trol and the formal political power is almost fantastic." Despite intermittent guerilla warfare between state power and private eco- nomic power through all our national life, democracy has slurred over the challenge to its very existence inherent in growing eco- nomic power.
This has been due to a number of factors, (i) The fact that the issue between the two types of power has been so heavily cloaked under the sectional issue between the agrarian and the Eastern industrial states has diverted attention from the fact that capitalist economic power constitutes a direct, continuous, and fundamental threat to the whole structure of democratic authority everywhere and always.
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