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Updated: May 13, 2025
Without the United States and its leadership, there can be little doubt that giant semi-sovereign corporations owing allegiance to some great power would now possess these countries. They would bristle with forts and police, and their populations would be in a state of absolute political and of quasi-economic servitude.
The massive Roman Universal State, stretching for centuries across parts of three continents, had broken up into a multitude of tiny semi-sovereign, semi-independent fragments. Some of the fragments as leagues, alliances and coalitions were reaching nationhood. New dawn was illuminating the Dark Ages.
Moreover, in this confederation of seven semi-sovereign provinces, Holland, which contributed to the strength, the finances and the commerce of the Union more than all the other provinces added together, obtained now, in the absence of an "eminent head," that position of predominance, during the stadholderless period which now follows, for which its statesmen had so long striven.
In this period practically all the schools of socialist thought from the Marxian left to the New Nationalists around Theodore Roosevelt, looked upon centralization as the first stage of an evolution which would end in the absorption of all the semi-sovereign powers of business by the political state. The evolution never took place, except for a few months during the war.
It produced many splendid things, but enough sordid and terrible ones to start counter-currents. One of these was the trust, which established a kind of Roman peace within industry, and a Roman predatory imperialism outside. People turned to the legislature for relief. They invoked representative government, founded on the image of the township farmer, to regulate the semi-sovereign corporations.
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