In my article, “Competition, Monopoly and Countervailing Power” (this Journal, November 1953), I erroneously stated, with reference to the 1952 wage dispute in the steel industry, that the government eventually authorized “both the requested wage increase and the $12 per ton price increase” (p. 476). In fact the price increase which was authorized was $5.65. I am grateful to Mr. Benjamin Caplan of Washington, D. C., for pointing out this error to me.