• Title/Summary/Keyword: pressure evolution

Search Result 369, Processing Time 0.029 seconds

Analysis of a Groundwater Flow System in Fractured Rock Mass Using the Concept of Hydraulic Compartment (수리영역 개념을 적용한 단열암반의 지하수유동체계 해석)

  • Cho Sung-Il;Kim Chun-Soo;Bae Dae-Seok;Kim Kyung-Su;Song Moo-Young
    • The Journal of Engineering Geology
    • /
    • v.16 no.1 s.47
    • /
    • pp.69-83
    • /
    • 2006
  • This study aims to evaluate a complex groundwater flow system around the underground oil storage caverns using the concept of hydraulic compartment. For the hydrogeological analysis, the hydraulic testing data, the evolution of groundwater levels in 28 surface monitoring boreholes and pressure variation of 95 horizontal and 63 vertical water curtain holes in the caverns were utilized. At the cavern level, the Hydraulic Conductor Domains(fracture zones) are characterized one local major fracture zone(NE-1)and two local fracture zones between the FZ-1 and FZ-2 fracture zones. The Hydraulic Rock Domain(rock mass) is divided into four compartments by the above local fracture zones. Two Hydraulic Rock Domains(A, B) around the FZ-2 zone have a relatively high initial groundwater pressures up to $15kg/cm^2$ and the differences between the upper and lower groundwater levels, measured from the monitoring holes equipped with double completion, are in the range of 10 and 40 m throughout the construction stage, indicating relatively good hydraulic connection between the near surface and bedrock groundwater systems. On the other hand, two Hydraulic Rock Domains(C, D) adjacent to the FZ-1, the groundwater levels in the upper and lower zones are shown a great difference in the maximum of 120 m and the high water levels in the upper groundwater system were not varied during the construction stage. This might be resulted from the very low hydraulic conductivity$(7.2X10^{-10}m/sec)$ in the zone, six times lower than that of Domain C, D. Groundwater recharge rates obtained from the numerical modeling are 2% of the annual mean precipitation(1,356mm/year) for 20 years.

A Theory on the Scope of Financial Activity (금융(金融)의 전업(專業) 및 겸업화(兼業化) 이론(理論): 금융산업조직론(金融産業組織論)의 모색(摸索))

  • Jwa, Sung-hee
    • KDI Journal of Economic Policy
    • /
    • v.13 no.1
    • /
    • pp.167-197
    • /
    • 1991
  • This paper is intended as an introductory essay to explain endogenous changes in the scope of firm activities in the competitive structure of a deregulated, multi-product financial industry. Recently, the global financial industry has been experiencing a widespread reshuffling in its activities, reflecting both consolidation and specialization. The spread of the universal banking system, which involves the integration of various kinds of financial activities, has resulted in the so-called financial supermarket. At the same time, the traditional set of banking activities has been unbundled into so-called financial boutiques. A relevant question is where the current reshuffling process of integration and disintegration in financial activities might lead the financial industry. However, presently popular theories of the financial industry are not really appropriate for the analysis of this issue. This paper attempts to integrate the theory of specialization [George J. Stigler, "The Division of Labor is Limited by the Extent of the Market," Journal of Political Economy, Vol. LIX, No.3, June 1951] and the theory of the multi-product firm [William J. Baumol, John C. Panzar, and Robert D. Willig, Contestable Markets and the Theory of Industry Structure, Harcourt Brace Jovanovich, Inc., New York, 1982] and to apply the resulting hybrid theory, a theory on the scope of financial activity, to the financial industry. The implications of this theory for the issues raised above are formalized under five hypotheses on the reshuffling of financial activities as listed below: Hypothesis I: The differences in the organization of financial industries among countries are determined by differences in the size of the financial markets, other things being equal. Hypothesis II: A financial firm will separate those financial activities simultaneously having relatively strong economies of scale and relatively weak economies of scope (alternatively, diseconomies of scope) from other activities. Conversely, the firm will integrate those activities simultaneously having relatively weak economies of scale (alternatively, diseconomies of scale) and relatively strong economies of scope with incumbent activities. Hypothesis III: A competitive equilibrium in the deregulated financial industry will consist of both specialized and multi-product financial firms, resulting in a mixed form of specialized and universal banking systems. Hypothesis IV: As world financial markets fully integrate and all countries consequently face this single, common world market, the financial structures of individual countries will become increasingly similar. Hypothesis V: A more universal banking system will dominate the deregulated financial industry in countries with relatively small financial markets, while a more specialized banking system will dominate in countries with relatively large financial markets. However, equilibrium will ultimately be mixed, with specialized and universal banks coexisting, as stated in Hypothesis III. Based on these hypotheses, this paper interprets the historical development of specialized vs. universal banking systems in major industrial countries as a process driven by the evolution of the financial market in each country - i.e. the change in the size of the financial market over time. In addition, this paper anticipates that the final equilibrium of the world financial industry, which is currently under the pressure of financial innovations and deregulation, will be a mixed equilibrium with both specialized boutiques and universal supermarket-type financial firms, instead of an exclusively specialized or universal banking system. Future research should seek continued theoretical elaboration and empirical verification of this paper's hypotheses.

  • PDF

Geochemical Studies of $CO_2$-rich Waters in Chojeong area II. Isotope Study (초정지역 탄산수의 지화학적 연구 II. 동위원소)

  • 고용권;김천수;배대석;최현수
    • Journal of the Korean Society of Groundwater Environment
    • /
    • v.6 no.4
    • /
    • pp.171-179
    • /
    • 1999
  • The $CO_2$-rich waters in the Chojeong area are characterized by low pH (5.0~5.8), high $CO_2$pressure (about 1 atm) and high amounts of total dissolved iou (up to 989 mg/L) and chemically belong to Ca-HC $O_3$type. The oxygen. deuterium and tritium isotope data indicate that the mixing process occurred between $CO_2$-rich water and surface water and/or shallow groundwaters and also suggest that the $CO_2$-rich water has been derived from meteoric waters. According to $\delta$$^{13}$ C values (-8.6~-5.3$\textperthousand$). the $CO_2$ in the water is attributed from deep seated $CO_2$gas. The high dissolved carbon (-14.4~-6.8$\textperthousand$. $\delta$$^{13}$ C) in groundwater of the granitic terrain might be affected by $CO_2$-rich water, whereas the dissolved carbon (-17.9~-15.2$\textperthousand$. $\delta$$^{13}$ C) in groundwater of the metamorphic terrain is likely controlled by soil $CO_2$ and from the reaction with calcite in phyllite. Sulfur isotope data (+3.5~+11.3$\textperthousand$,$\delta$$^{34}$ $S_{SO4}$) also support the mixing process between $CO_2$-rich water and shallow groundwater. Strontium isotopic ratio ($^{87}$ Sr/$^{86}$ Sr) indicates that the $CO_2$-rich water (0.7138~0.7156) is not related to vein calcite (0.7184) of Buak mine or calcite (0.7281~0.7346) in phyllite. By nitrogen isotope ($\delta$$^{15}$ $N_{NO3}$) the sources of nitrogen (up to 55.0 mg/L, N $O_3$) in the $CO_2$-rich water are identified as fertilizer and animal manure. It also indicates the possibility of denitrification during the circulation of nitrogen in the Chojeong area. The possible evolution model of the $CO_2$-rich water based on the hydrochemical and environmental isotopic data was proposed in this study. The $CO_2$-rich waters from the Chojeong area were primarily derived from the reaction with granite by supply of deep seated $CO_2$. and then the $CO_2$-rich water was mixed and diluted with the local groundwater.ter.

  • PDF

Fluid Inclusions Trapped in Xenoliths from the Lower Crust/upper Mantle Beneath Jeju Island (I): A Preliminary Study (제주도의 하부지각/상부맨틀 기원의 포획암에 포획된 유체포유물: 예비연구)

  • Yang, Kyounghee
    • The Journal of the Petrological Society of Korea
    • /
    • v.13 no.1
    • /
    • pp.34-45
    • /
    • 2004
  • This paper describes the textural relations of mantle xenoliths and fluid inclusions in mantle-derived rocks found in alkaline basalts from Jeju Island which contain abundant ultramafic, felsic, and cumulate xenoliths. Most of the ultramafic xenoliths are spinel-lherzolites, composed of olivine, orthopyroxene, clinopyroxene and spinel. The felsic xenoliths considered as partially molten buchites consist of quartz and plagioclase with black veinlets, which are the product of ultrahigh-temperature metamorphism of lower crustal materials. The cumulate xenoliths, clinopyroxene-rich or clinopyroxene megacrysts, are also present. Textural examination of these xenoliths reveals that the xenoliths are typically coarse grained with metamorphic characteristics, testifying to a complex history of evolution of the lower crust/upper mantle source region. The ultramafic xenoliths contain protogranular, porphyroclastic and equigranular textures with annealing features, indicating the presence of shear regime in upper mantle of the Island. The preferential associations of spinel and olivine with large orthopyroxenes suggest a previous high temperature equilibrium in the high-Al field and the original rock-type was a Al-rich orthopyroxene-bearing peridotite without garnet. Three types of fluid inclusions trapped in mantle-derived xenoliths include CO$_2$-rich fluid (Type I), multiphase silicate melt (glass ${\pm}$ devitrified crystals ${\pm}$ one or more daughter crystals + one or more vapor bubbles) (Type II), and sulfide (melt) inclusions (Type III). C$_2$-rich inclusions are the most abundant volatile species in mantle xenoliths, supporting the presence of a separate CO$_2$-rich phase. These CO$_2$-rich inclusions are spatially associated with silicate and sulfide melts, suggesting immiscibility between them. Most multiphase silicate melt inclusions contain considerable amount of silicic glass. reflecting the formation of silicic melts in the lower crust/upper mantle. Combining fluid and melt inclusion data with conventional petrological and geochemical information will help to constrain the fluid regime, fluid-melt-mineral interaction processes in the mantle of the Korean Peninsula and pressure-temperature history of the host xenoliths in future studies.

Management of the Development of Insecticide Resistance by Sensible Use of Insecticide, Operational Methods (실행방식 측면에서 살충제의 신중한 사용에 의한 저항성 발달의 관리)

  • Chung, Bu-Keun;Park, Chung-Gyoo
    • Korean journal of applied entomology
    • /
    • v.48 no.2
    • /
    • pp.123-158
    • /
    • 2009
  • An attempt was made to stimulate future research by providing exemplary information, which would integrate published knowledge to solve specific pest problem caused by resistance. This review was directed to find a way for delaying resistance development with consideration of chemical(s) nature, of mixture, rotation, or mosaics, and of insecticide(s) compatible with the biological agents in integrated pest management (IPM). The application frequency, related to the resistance development, was influenced by insecticide activity from potentiation, residual period, and the vulnerability to resistance development of chemical, with secondary pest. Chemical affected feeding, locomotion, flight, mating, and predator avoidance. Insecticides with negative cross-resistance by the difference of target sites and mode of action would be adapted to mixture, rotation and mosaic. Mixtures for delaying resistance depend on each component killing very high percentage of the insects, considering allele dominance, cross-resistance, and immigration and fitness disadvantage. Potential disadvantages associated with mixtures include disruption of biological control, resistance in secondary pests, selecting very resistant population, and extending cross-resistance range. The rotation would use insecticides in high and low doses, or with different metabolic mechanisms. Mosaic apply insecticides to the different sectors of a grid for highly mobile insects, spray unrelated insecticides to sedentary aphids in different areas, or mix plots of insecticide-treated and untreated rows. On the evolution of pest resistance, selectivity and resistance of parasitoids and predator decreased the number of generations in which pesticide treatment is required and they could be complementary to refuges from pesticides To enhance the viability of parasitoids, the terms on the insecticides selectivity and factors affecting to the selectivity in field were examined. For establishment of resistant parasitoid, migration, survivorship, refuge, alternative pesticides were considered. To use parasitoids under the pressure of pesticides, resistant or tolerant parasitoids were tested, collected, and/or selected. A parasitoid parasitized more successfully in the susceptible host than the resistant. Factors affecting to selective toxicity of predator are mixing mineral oil, application method, insecticide contaminated prey, trait of individual insecticide, sub-lethal doses, and the developmental stage of predators. To improve the predator/prey ratio in field, application time, method, and formulation of pesticide, reducing dose rate, using mulches and weeds, multicropping and managing of surroundings are suggested. Plant resistance, predator activity, selective insect growth regulator, and alternative prey positively contributed to the increase of the ratio. Using selective insecticides or insecticide resistant predator controlled its phytophagous prey mites, kept them below an economic level, increased yield, and reduced the spray number and fruits damaged.

Applicability of plate tectonics to the post-late Cretaceous igneous activities and mineralization in the southern part of South Korea( I ) (한국남부(韓國南部)의 백악기말(白堊紀末) 이후(以後)의 화성활동(火成活動)과 광화작용(鑛化作用)에 대(對)한 판구조론(板構造論)의 적용성(適用性) 연구(硏究)( I ))

  • Min, Kyung Duck;Kim, Ok Joon;Yun, Suckew;Lee, Dai Sung;Joo, Sung Whan
    • Economic and Environmental Geology
    • /
    • v.15 no.3
    • /
    • pp.123-154
    • /
    • 1982
  • Petrochemical, K-Ar dating, Sand Rb/Sr isotopes, metallogenic zoning, paleomagnetic and geotectonic studies of the Gyongsang basin were carried out to examine applicability of plate tectonics to the post-late Cretaceous igneous activity and metallogeny in the southeastern part of Korean Peninsula. The results obtained are as follows: 1. Bulgugsa granitic rocks range from granite to adamellite, whose Q-Ab-Or triangular diagram indicates that the depth and pressure at which the magma consolidated increase from coast to inland varying from 6 km, 0.5-3.3 kb in the coastal area to 17 km, 0.5-10 kb in the inland area. 2. The volcanic rocks in Gyongsang basin range from andesitic to basaltic rocks, and the basaltic rocks are generally tholeiitic in the coastal area and alkali basalt in the inland area. 3. The volcanic rocks of the area have the initial ratio of Sr^{87}/Sr^{86} varying from 0.706 to 0.707 which suggests a continental origin; the ratio of Rb/Sr changing from 0.079-0.157 in the coastal area to 0.021-0.034 in the inland area suggests that the volcanism is getting younger toward coastal side, which may indicate a retreat in stage of differentiation if they were derived from a same magma. The K_2O/SiO_2 (60%) increases from about 1.0 in the coastal area to about 3.0 in the inland area, which may suggest an increase indepth of the Benioff zone, if existed, toward inland side. 4. The K-Ar ages of volcanic rocks were measured to be 79.4 m.y. near Daegu, and 61.7 m.y. near Busan indicating a southeastward decrease in age. The ages of plutonic rocks also decrease toward the same direction with 73 m.y. near Daegu, and 58 m.y. near Busan, so that the volcanism predated the plutonism by 6 m.y. in the continental interior and 4 m.y. along the coast. Such igneous activities provide a positive evidence for an applicability of plate tectonics to this area. 5. Sulfur isotope analyses of sulfide minerals from 8 mines revealed that these deposits were genetically connected with the spacially associated ingeous rocks showing relatively narrow range of ${\delta}^{34}S$ values (-0.9‰ to +7.5‰ except for +13.3 from Mulgum Mine). A sequence of metallogenic zones from the coast to the inland is delineated to be in the order of Fe-Cu zone, Cu-Pb-Zn zone, and W-Mo zone. A few porphyry type copper deposits are found in the Fe-Cu zone. These two facts enable the sequence to be comparable with that of Andean type in South America. 6. The VGP's of Cretaceous and post Cretaceous rocks from Korea are located near the ones($71^{\circ}N$, $180^{\circ}E$ and $90^{\circ}N$, $110^{\circ}E$) obtained from continents of northern hemisphere. This suggests that the Korean peninsula has been stable tectonically since Cretaceous, belonging to the Eurasian continent. 7. Different polar wandering path between Korean peninsula and Japanese islands delineates that there has been some relative movement between them. 8. The variational feature of declination of NRM toward northwestern inland side from southeastern extremity of Korean peninsula suggests that the age of rocks becomes older toward inland side. 9. The geological structure(mainly faults) and trends of lineaments interpreted from the Landsat imagery reveal that NNE-, NWW- and NEE-trends are predominant in the decreasing order of intensity. 10. The NNE-trending structures were originated by tensional and/or compressional forces, the directions of which were parallel and perpendicular respectively to the subduction boundary of the Kula plate during about 90 m.y. B.P. The NWW-trending structures were originated as shear fractures by the same compressional forces. The NEE-trending structures are considered to be priginated as tension fractures parallel to the subduction boundary of the Kula plate during about 70 m.y. B.P. when Japanese islands had drifted toward southeast leaving the Sea of Japan behind. It was clearly demonstrated by many authors that the drifting of Japanese islands was accompanied with a rotational movement of a clock-wise direction, so that it is inferred that subduction boundary had changed from NNE- to NEE-direction. A number of facts and features mentioned above provide a suite of positive evidences enabling application of plate tectonics to the late Cretaceous-early Tertiary igneous activity and metallogeny in the area. Synthesizing these facts, an arc-trench system of continental margin-type is adopted by reconstructing paleogeographic models for the evolution of Korean peninsula and Japan islands. The models involve an extention mechanism behind the are(proto-Japan), by which proto-Japan as of northeastern continuation of Gyongsang zone has been drifted rotationally toward southeast. The zone of igneous activity has also been migrated from the inland in late-Cretaceous to the peninsula margin and southwestern Japan in Tertiary.

  • PDF

Mantle-derived CO2-fluid Inclusions in Peridotite Xenoliths from the Alkali Basalt, Jeju Island, South Korea (제주도 현무암에 포획된 페리도타이트에 산출되는 맨틀 기원의 CO2-유체포유물)

  • Seo, Minyoung;Woo, Yonghoon;Park, Geunyeong;Kim, Eunju;Lim, Hyoun Soo;Yang, Kyounghee
    • The Journal of the Petrological Society of Korea
    • /
    • v.25 no.1
    • /
    • pp.39-50
    • /
    • 2016
  • Negative crystal shaped $CO_2$-rich fluid inclusions, trapped as primary inclusions in neoblasts and as secondary inclusions in porphyroblasts, were studied in spinel peridotite xenoliths from Jeju Island. Based on microthermometric experiments, the solid phase melts at $-57.1^{\circ}C$(${\pm}0.9^{\circ}C$) with no other observable melting events, indicating that the trapped fluid is mostly $CO_2$. The homogenization temperatures show a much wider range from $-39^{\circ}C$(${\rho}=1.12g/cm^{3)}$) to $23^{\circ}C$(${\rho}=0.82g/cm^{3)}$), suggesting that most of the inclusions (originally trapped at mantle conditions) re-equilibrated to lower density values. Nevertheless, the highest density $CO_2$ in our fluid inclusions is consistent with entrapment of fluids at upper mantle pressures (and depths). The calculated trapping pressure from $CO_2$-rich fluid inclusions that appear to be free from re-equilibrium, e.g., showing the lowest homogenization temperatures, is ${\approx}0.9GPa$. Based on the petrographic evidences, the fluid entrapment can be regarded as a late stage event in the evolution of the shallow lithospheric mantle.

Dynamics of Barrel-Shaped Young Supernova Remnants (항아리 형태 젊은 초신성 잔해의 동력학)

  • Choe, Seung-Urn;Jung, Hyun-Chul
    • Journal of the Korean earth science society
    • /
    • v.23 no.4
    • /
    • pp.357-368
    • /
    • 2002
  • In this study we have tried to explain the barrel-shaped morphology for young supernova remnants considering the dynamical effects of the ejecta. We consider the magnetic field amplification resulting from the Rayleigh-Taylor instability near the contact discontinuity. We can generate the synthetic radio image assuming the cosmic-ray pressure and calculate the azimuthal intensity ratio (A) to enable a quantitative comparison with observations. The postshock magnetic field are amplified by shearing, stretching, and compressing at the R-T finger boundary. The evolution of the instability strongly depends on the deceleration of the ejecta and the evolutionary stage of the remnant. the strength of the magnetic field increases in the initial phase and decreases after the reverse shock passes the constant density region of the ejecta. However, some memory of the earlier phases of amplification is retained in the interior even when the outer regions turn into a blast wave. The ratio of the averaged magnetic field strength at the equator to the one at the pole in the turbulent region can amount to 7.5 at the peak. The magnetic field amplification can make the large azimuthal intensity ratio (A=15). The magnitude of the amplification is sensitive to numerical resolution. This mens the magnetic field amplification can explain the barrel-shaped morphology of young supernova remnant without the dependence of the efficiency of the cosmic-ray acceleration on the magnetic field configuration. In order for this mechanism to be effective, the surrounding magnetic field must be well-ordered. The small number of barrel-shaped remnants may indicate that this condition rarely occurs.

The Concentration of Economic Power in Korea (경제력집중(經濟力集中) : 기본시각(基本視角)과 정책방향(政策方向))

  • Lee, Kyu-uck
    • KDI Journal of Economic Policy
    • /
    • v.12 no.1
    • /
    • pp.31-68
    • /
    • 1990
  • The concentration of economic power takes the form of one or a few firms controlling a substantial portion of the economic resources and means in a certain economic area. At the same time, to the extent that these firms are owned by a few individuals, resource allocation can be manipulated by them rather than by the impersonal market mechanism. This will impair allocative efficiency, run counter to a decentralized market system and hamper the equitable distribution of wealth. Viewed from the historical evolution of Western capitalism in general, the concentration of economic power is a paradox in that it is a product of the free market system itself. The economic principle of natural discrimination works so that a few big firms preempt scarce resources and market opportunities. Prominent historical examples include trusts in America, Konzern in Germany and Zaibatsu in Japan in the early twentieth century. In other words, the concentration of economic power is the outcome as well as the antithesis of free competition. As long as judgment of the economic system at large depends upon the value systems of individuals, therefore, the issue of how to evaluate the concentration of economic power will inevitably be tinged with ideology. We have witnessed several different approaches to this problem such as communism, fascism and revised capitalism, and the last one seems to be the only surviving alternative. The concentration of economic power in Korea can be summarily represented by the "jaebol," namely, the conglomerate business group, the majority of whose member firms are monopolistic or oligopolistic in their respective markets and are owned by particular individuals. The jaebol has many dimensions in its size, but to sketch its magnitude, the share of the jaebol in the manufacturing sector reached 37.3% in shipment and 17.6% in employment as of 1989. The concentration of economic power can be ascribed to a number of causes. In the early stages of economic development, when the market system is immature, entrepreneurship must fill the gap inherent in the market in addition to performing its customary managerial function. Entrepreneurship of this sort is a scarce resource and becomes even more valuable as the target rate of economic growth gets higher. Entrepreneurship can neither be readily obtained in the market nor exhausted despite repeated use. Because of these peculiarities, economic power is bound to be concentrated in the hands of a few entrepreneurs and their business groups. It goes without saying, however, that the issue of whether the full exercise of money-making entrepreneurship is compatible with social mores is a different matter entirely. The rapidity of the concentration of economic power can also be traced to the diversification of business groups. The transplantation of advanced technology oriented toward mass production tends to saturate the small domestic market quite early and allows a firm to expand into new markets by making use of excess capacity and of monopoly profits. One of the reasons why the jaebol issue has become so acute in Korea lies in the nature of the government-business relationship. The Korean government has set economic development as its foremost national goal and, since then, has intervened profoundly in the private sector. Since most strategic industries promoted by the government required a huge capacity in technology, capital and manpower, big firms were favored over smaller firms, and the benefits of industrial policy naturally accrued to large business groups. The concentration of economic power which occured along the way was, therefore, not necessarily a product of the market system. At the same time, the concentration of ownership in business groups has been left largely intact as they have customarily met capital requirements by means of debt. The real advantage enjoyed by large business groups lies in synergy due to multiplant and multiproduct production. Even these effects, however, cannot always be considered socially optimal, as they offer disadvantages to other independent firms-for example, by foreclosing their markets. Moreover their fictitious or artificial advantages only aggravate the popular perception that most business groups have accumulated their wealth at the expense of the general public and under the behest of the government. Since Korea stands now at the threshold of establishing a full-fledged market economy along with political democracy, the phenomenon called the concentration of economic power must be correctly understood and the roles of business groups must be accordingly redefined. In doing so, we would do better to take a closer look at Japan which has experienced a demise of family-controlled Zaibatsu and a success with business groups(Kigyoshudan) whose ownership is dispersed among many firms and ultimately among the general public. The Japanese case cannot be an ideal model, but at least it gives us a good point of departure in that the issue of ownership is at the heart of the matter. In setting the basic direction of public policy aimed at controlling the concentration of economic power, one must harmonize efficiency and equity. Firm size in itself is not a problem, if it is dictated by efficiency considerations and if the firm behaves competitively in the market. As long as entrepreneurship is required for continuous economic growth and there is a discrepancy in entrepreneurial capacity among individuals, a concentration of economic power is bound to take place to some degree. Hence, the most effective way of reducing the inefficiency of business groups may be to impose competitive pressure on their activities. Concurrently, unless the concentration of ownership in business groups is scaled down, the seed of social discontent will still remain. Nevertheless, the dispersion of ownership requires a number of preconditions and, consequently, we must make consistent, long-term efforts on many fronts. We can suggest a long list of policy measures specifically designed to control the concentration of economic power. Whatever the policy may be, however, its intended effects will not be fully realized unless business groups abide by the moral code expected of socially responsible entrepreneurs. This is especially true, since the root of the problem of the excessive concentration of economic power lies outside the issue of efficiency, in problems concerning distribution, equity, and social justice.

  • PDF