Equality by Edward Bellamy (popular romance novels TXT) 📕

this condition of things, which, indeed, it required no prophet to foretell."

"How near was the world--that is, of course, the nations whose industrial evolution had gone farthest--to this condition when the Revolution came?"

"They were apparently on its verge. The more economically advanced countries had generally exhausted their home markets and were struggling desperately for what was left of foreign markets. The rate of interest, which indicated the degree to which capital had become glutted, had fallen in England to two per cent and in America within thirty years had sunk from seven and six to five and three and four per cent, and was falling year by year. 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."

"And do I understand, then, that this stationary condition, after which no increase in the rate of wealth production could be looked for, was setting in while yet the primary needs of the masses remained unprovided for?"

"Certainly. The satisfaction of the needs of the masses, as we have abundantly seen, was in no way recognized as a motive for production under the profit system. As production approached the stationary point the misery of the people would, in fact, increase as a direct result of the competition among capitalists to invest their glut of capital in business. In order to do so, as has already been shown, they sought to reduce the prices of products, and that meant the reduction of wages to wage-earners and prices to first producers to the lowest possible point before any reduction in the profits of the capitalist was considered. What the old economists called the stationary condition of production meant, therefore, the perpetuation indefinitely of the maximum degree of hardship endurable by the people at large."

"That will do, Charles; you have said enough to relieve any apprehension that possibly we were doing injustice to the profit system. Evidently that could not be done to a system of which its own champions foretold such an outcome as you have described. What, indeed, could be added to the description they give of it in these predictions of the stationary condition as a programme of industry confessing itself at the end of its resources in the midst of a naked and starving race? This was the good time coming, with the hope of which the nineteenth-century economists cheered the cold and hungry world of toilers--a time when, being worse off than ever, they must abandon forever even the hope of improvement. No wonder our forefathers described their so-called political economy as a dismal science, for never was there a pessimism blacker, a hopelessness more hopeless than it preached. Ill indeed had it been for humanity if it had been truly a science.

ESTHER COUNTS THE COST OF THE PROFIT SYSTEM.

"Now, Esther," the teacher pursued, "I am going to ask you to do a little estimating as to about how much the privilege of retaining the profit system cost our forefathers. Emily has given us an idea of the magnitude of the two great wastes of profits--the waste of competition and the waste of luxury. Now, did the capital wasted in these two ways represent all that the profit system cost the people?"

"It did not give a faint idea of it, much less represent it," replied the girl Esther. "The aggregate wealth wasted respectively in competition and luxury, could it have been distributed equally for consumption among the people, would undoubtedly have considerably raised the general level of comfort. In the cost of the profit system to a community, the wealth wasted by the capitalists was, however, an insignificant item. The bulk of that cost consisted in the effect of the profit system to prevent wealth from being produced, in holding back and tying down the almost boundless wealth-producing power of man. 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. You may estimate that this would have meant a fivefold, sevenfold, or tenfold increase of production, as you please to guess.

"But tell us this: 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. There was no time during the last quarter of the century in America or in any of the advanced countries when the existing productive plants could not have produced enough in six months to have supplied the total annual consumption as it actually was. And those plants could have been multiplied indefinitely. In like manner the agricultural product of the country was always kept far within its possibility, for a plentiful crop under the profit system meant ruinous prices to the farmers. As has been said, it was an admitted proposition of the old economists that there was no visible limit to production if only sufficient demand for consumption could be secured."

"Can you recall any instance in history in which it can be argued that a people paid so large a price in delayed and prevented development for the privilege of retaining any other tyranny as they did for keeping the profit system?"

"I am sure there never was such another instance, and I will tell you why I think so. Human progress has been delayed at various stages by oppressive institutions, and the world has leaped forward at their overthrow. But there was never before a time when the conditions had been so long ready and waiting for so great and so instantaneous a forward movement all along the line of social improvement as in the period preceding the Revolution. The mechanical and industrial forces, held in check by the profit system, only required to be unleashed to transform the economic condition of the race as by magic. So much for the material cost of the profit system to our forefathers; but, vast as that was, it is not worth considering for a moment in comparison with its cost in human happiness. I mean the moral cost in wrong and tears and black negations and stifled moral possibilities which the world paid for every day's retention of private capitalism: there are no words adequate to express the sum of that."

NO POLITICAL ECONOMY BEFORE THE REVOLUTION.

"That will do, Esther.--Now, George, I want you to tell us just a little about a particular body among the learned class of the nineteenth century, which, according to the professions of its members, ought to have known and to have taught the people all that we have so easily perceived as to the suicidal character of the profit system and the economic perdition it meant for mankind so long as it should be tolerated. I refer to the political economists."

"There were no political economists before the Revolution," replied the lad.

"But there certainly was a large class of learned men who called themselves political economists."

"Oh, yes; but they labeled themselves wrongly."

"How do you make that out?"

"Because there was not, until the Revolution--except, of course, among those who sought to bring it to pass--any conception whatever of what political economy is."

"What is it?"

"Economy," replied the lad, "means the wise husbandry of wealth in production and distribution. Individual economy is the science of this husbandry when conducted in the interest of the individual without regard to any others. Family economy is this husbandry carried on for the advantage of a family group without regard to other groups. Political economy, however, can only mean the husbandry of wealth for the greatest advantage of the political or social body, the whole number of the citizens constituting the political organization. This sort of husbandry necessarily implies a public or political regulation of economic affairs for the general interest. 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."

"Have you ever looked over any of the treatises which our forefathers called political economies, at the Historical Library?"

"I confess," the boy answered, "that the title of the leading work under that head was enough for me. It was called The Wealth of Nations. 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? 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."

"And yet," said the teacher, "the only real fault of these so-called books on Political Economy consists in the absurdity of the title. Correct that, and their value as documents of the times at once becomes evident. For example, we might call them 'Examinations into the Economic and Social Consequences of trying to get along without any Political Economy.' A title scarcely less fit would perhaps be 'Studies into the Natural Course of Economic Affairs when left to Anarchy by the Lack of any Regulation in the General Interest.' It is, when regarded in this light, as painstaking and conclusive expositions of the ruinous effects of private capitalism upon the welfare of communities, that we perceive the true use and value of these works. Taking up in detail the various phenomena of the industrial and commercial world of that day, with their reactions upon the social status, their authors show how the results could not have been other than they were, owing to the laws of private capitalism, and that it was nothing but weak sentimentalism to suppose that while those laws continued in operation any different results could be obtained, however good men's intentions. Although somewhat heavy in style for popular reading, I have often thought that during the revolutionary period no documents could have been better calculated to convince rational men who could be induced to read them, that it was absolutely necessary to put an end to private capitalism if humanity were ever to get forward.

"The fatal and quite incomprehensible mistake of their authors was that they did not themselves see this, conclusion and preach it. Instead of that they committed the incredible blunder of accepting a set of conditions that were manifestly mere barbaric survivals as the basis of a social science when they ought easily to have seen that the very idea of a scientific social order suggested the abolition of those conditions as the first step toward its realization.

"Meanwhile, as to the present lesson, there are two or three points to clear up before leaving it. We have been talking altogether of profit taking, but this was only one of the three main methods by which the capitalists collected the tribute from the toiling world by which their power was acquired and maintained. What were the other two?"

"Rent and interest."

"What was rent?"

"In those days," replied George, "the right to a reasonable and equal allotment of land for private uses did not belong as a matter of course to every person as it does now. No