Edward Bellamy

“ I mean that under competition there was no free play whatever allowed for the capitalist's better feelings even if he had any. He could not be better than the system. If he tried to be, the system would crush him. He had to follow the pace set by his competitors or fail in business. Whatever rascality or cruelty his rivals might devise, he must imitate or drop out of the struggle. The very wickedest, meanest, and most rascally of the competitors, the one who ground his employees lowest, adulterated his goods most shamefully, and lied about them most skillfully, set the pace for all the rest. ”

“ Imagine the mass of the population, instead of being sunk in poverty and a large part of them in bitter want, to have received sufficient to satisfy all their needs and give them ample, comfortable lives, and estimate the amount of additional wealth which it would have been necessary to produce to meet this standard of consumption. That will give you a basis for calculating the amount of wealth which the American people or any people of those days might and would have produced but for the profit system. ”

“ There can be but one science of human conduct in whatever field, and that is ethical. Any economic proposition which can not be stated in ethical terms is false. Nothing can be in the long run or on a large scale sound economics which is not sound ethics. It is not, therefore, a mere coincidence, but a logical necessity, that the supreme word of both ethics and economics should be one and the same--equality. ”

“ This old fellow, as you say, was the only one of the lot who went to the root of the profit system, and saw that there was not room for it and for mankind on the earth. Regarding the profit system as a God-ordained necessity, there could be no doubt in his mind that it was mankind which must, under the circumstances, get off the earth. People called Malthus a cold-blooded philosopher. Perhaps he was, but certainly it was only common humanity that, so long as the profit system lasted, a red flag should be hung out on the planet, warning souls not to land except at their own risk. ”

“ The fundamental general law in the science of social wealth is, therefore, that the efficiency of a given amount of purchasing power to promote consumption is in exact proportion to its wide distribution, and is most efficient when equally distributed among the whole body of consumers because that is the widest possible distribution."
"You have not called attention to the fact that the formula of the greatest wealth production--namely, equal sharing of the product among the community--is also that application of the product which will cause the greatest sum of human happiness." ”

“ The bad effects of a bad system are always aggravated by the willfulness of men who take advantage of it, and so, no doubt, the profit system was made by selfish men to work worse than it might have done. Now, suppose the capitalists had all been fair-minded men and not extortioners, and had made their charges for their services as small as was consistent with reasonable gains and self-protection, would that course have involved such a reduction of profit charges as would have greatly helped the people to consume their products and thus to promote production? ”

“ Although unable to eat enough to support life, he was constantly suffering the pangs of indigestion, and while actually starving for want of nourishment, was tormented by the sensation of an overloaded stomach. Now, the economic condition of a community under the profit system afforded a striking analogy to the plight of such a dyspeptic. The masses of the people were always in bitter need of all things, and were abundantly able by their industry to provide for all their needs, but the profit system would not permit them to consume even what they produced, much less produce what they could. ”

“ It was because the economists and the learned classes, who alone had a voice, regarded the economic question entirely from the side of the capitalists and ignored the interest of the people. From the point of view of the capitalist it was a case of overproduction when he had charged profits on products which took them beyond the power of the people to buy, and so the economist writing in his interest called it. From the point of view of the capitalist, and consequently of the economist, the only question was the condition of the market, not of the people. ”

“ I noticed too that quite a common subtitle used for these so-called works on political economy was the phrase 'The Science of Wealth.' Now what could an apologist of private capitalism and the profit system possibly have to say about the science of wealth? The A B C of any science of wealth production is the necessity of co-ordination and concert of effort; whereas competition, conflict, and endless cross-purposes were the sum and substance of the economic methods set forth by these writers. ”

“ While they seemed quite incapable of imagining anything different from private capitalism as the basis of an economic system, they cherished no illusions as to its operation. Far from trying to comfort mankind by promising that if present ills were bravely borne matters would grow better, they expressly taught that the profit system must inevitably result at some time not far ahead in the arrest of industrial progress and a stationary condition of production. ”

“ And it must be remembered also that when a capitalist succeeded in displacing another and getting away his business the total waste of capital was just as great as if he failed, only in the one case it was the capital of the previous investor that was destroyed instead of the capital of the newcomer. In every country which had attained any degree of economic development there were many times more business enterprises in every line than there was business for, and many times as much capital already invested as there was a return for. ”

“ That would be an admirable title for a political economy nowadays, when the production and distribution of wealth are conducted altogether by and for the people collectively; but what meaning could it conceivably have had as applied to a book written nearly a hundred years before such a thing as a national economic organization was thought of, with the sole view of instructing capitalists how to get rich at the cost of, or at least in total disregard of, the welfare of their fellow-citizens? ”

“ They failed to see that under the profit system the absolute waste of the excess of profits in unproductive expenditure was an economic necessity, if production was to proceed, as you showed in comparing it with the cistern. The waste of profits in luxury was an economic necessity, to use another figure, precisely as a running sore is a necessary vent in some cases for the impurities of a diseased body. Under our system of equal sharing, the wealth of a community is freely and equally distributed among its members as is the blood in a healthy body. ”

“ Would it not have startled the old economists to hear that the secret of the most efficient system of wealth production was conformity on a national scale to the ethical idea of equal treatment for all embodied by Jesus Christ in the golden rule? ”

“ The world always has had and will have need of all the virtue and true religion that men can be induced to practice; but to tell farmers that personal religion will take the place of a scientific agriculture, or the master of an unseaworthy ship that the practice of good morals will bring his craft to shore, would be no greater childishness than the priests and moralists of your day committed in assuring a world beggared by a crazy economic system that the secret of plenty was good works and personal piety. ”

“ Would it have been possible for the people of America, say, in the last quarter of the nineteenth century, to have multiplied their production at such a rate if consumption had demanded it?"
"Nothing is more certain than that they could easily have done so. The progress of invention had been so great in the nineteenth century as to multiply from twentyfold to many hundredfold the productive power of industry. ”

“ If the capitalists had cared at all about the humane aspect of the matter, they could have taken a much less demoralizing method in getting rid of the obstructive surplus. They could have periodically made a bonfire of it as a burnt sacrifice to the god Profit, or, if they preferred, it might have been carried out in scows beyond soundings and dumped there. ”

“ They recognized, as we do, the tendency under private capitalism of rents, interest, and profits to accumulate as capital in the hands of the capitalist class, while, on the other hand, the consuming power of the masses did not increase, but either decreased or remained practically stationary. From this lack of equilibrium between production and consumption it followed that the difficulty of profitably employing capital in productive industry must increase as the accumulations of capital so disposable should grow. ”

“ We have seen that what kept the world in poverty under private capitalism was the effect of profits, aided by rent and interest to reduce consumption and thus cripple production, by concentrating the purchasing power of the people in the hands of a few. ”

“ Suppose the Revolution had not come to interrupt that process, would a system under which capital and the control of all business had been consolidated in a few hands have been worse for the public interest than the effect of competition? ”

“ Moreover, if a capitalist were personally to take charge of the business in which he invested his capital, he would reasonably have expected adequate wages of superintendence--compensation, in other words, for his skill and judgment in navigating the venture through the stormy waters of the business sea, compared with which, as it was in that day, the North Atlantic in midwinter is a mill pond. ”

“ The antagonism of the profit system to effective wealth production arose from causes inherent in and inseparable from private capitalism; and so long as private capitalism was retained, those causes must have made the profit system inconsistent with any economic improvement in the condition of the people, even if the capitalists had been, angels. ”

“ Productive industry had become generally clogged, and proceeded by fits and starts. In America the wage-earners were becoming proletarians, and the farmers fast sinking into the state of a tenantry. It was indeed the popular discontent caused by these conditions, coupled with apprehension of worse to come, which finally roused the people at the close of the nineteenth century to the necessity of destroying private capitalism for good and all. ”

“ Because the capitalist had naturally refrained from sacrificing his profits in order to reduce prices so long as he could take the cost of the reduction out of the wages of his workmen or out of the first-hand producer. That is to say, it was only when the working masses had been reduced to pretty near the minimum subsistence point that the capitalist would decide to sacrifice a portion of his profits. By that time it was too late for the people to take advantage of the reduction. When a population had reached that point, it had no buying power left to be stimulated. ”

“ As a single illustration of the utterly deceptive character of reductions in price under the profit system, it may be recalled that toward the close of the nineteenth century in America, after almost magical inventions for reducing the cost of shoemaking, it was a common saying that although the price of shoes was considerably lower than fifty years before, when they were made by hand, yet that later-made shoes were so much poorer in quality as to be really quite as expensive as the earlier. ”

“ Because if the whole body of wage-earners failed to receive any wages for their work, and the farmers received nothing for their produce, there would be nobody to buy anything, and the market would collapse entirely. There would be no demand for any goods except what little the capitalists themselves and their friends could consume. The working people would then presently starve, and the capitalists be left to do their own work. ”

“ It became the policy of the capitalists engaged in the most important lines of manufacture to turn out goods expressly made with a view to wearing as short a time as possible, so as to need the speedier renewal. They taught their very machines to be dishonest, and corrupted steel and brass. Even the purblind people of that day recognized the vanity of the pretended reductions in price by the epithet 'cheap and nasty,' with which they characterized cheapened goods. All this class of reductions, it is plain, cost the consumer two dollars for every one it professed to save him. ”

“ If the profit system worked according to the description we have listened to, we shall be prepared to learn that the economic situation was marked by the existence of large stores of consumable goods in the hands of the profit takers which they would be glad to sell, and, on the other hand, by a great population composed of the original producers of the goods, who were in sharp need of the goods but unable to purchase them. ”

“ But before the Revolution there was no conception of such an economy, nor any organization to carry it out. All systems and doctrines of economy previous to that time were distinctly and exclusively private and individual in their whole theory and practice. While in other respects our forefathers did in various ways and degrees recognize a social solidarity and a political unity with proportionate rights and duties, their theory and practice as to all matters touching the getting and sharing of wealth were aggressively and brutally individualistic, antisocial, and unpolitical. ”