A Critical Examination of Socialism | Page 4

power.
Testimony of a well-known socialist to the impossibility of altering the character of individual demand by outside influence.
CHAPTER XI
CHRISTIAN SOCIALISM AS A SUBSTITUTE FOR SECULAR DEMOCRACY
The meaning of Christian socialism, as restated to-day by a typical writer.
His just criticism of the fallacy underlying modern ideas of democracy. The impossibility of equalising unequal men by political means.
Christian socialism teaches, he says, that the abler men should make themselves equal to ordinary men by surrendering to them the products of their own ability, or else by abstaining from its exercise.
The author's ignorance of the nature of the modern industrial process. His idea of steel.
He confuses the production of wealth on a great scale with the acquisition of wealth when produced.
The only really productive ability which he distinctly recognises is that of the speculative inventor.
He declares that inventors never wish to profit personally by their inventions. Let the great capitalists, he says, who merely monopolise inventions, imitate the self-abnegation of the inventors, and Christian socialism will become a fact.
The confusion which reigns in the minds of sentimentalists like the author here quoted. Their inability to see complex facts and principles, in their connected integrity, as they are. Such persons herein similar to devisers of perpetual motions and systems for defeating the laws of chance at a roulette-table.
All logical socialistic conclusions drawn from premises in which some vital truth or principle is omitted. Omission in the premises of the earlier socialists. Corresponding omission in the premises of the socialists of to-day.
Origin of the confusion of thought characteristic of Christian as of all other socialists. Temperamental inability to understand the complexities of economic life. This inability further evidenced by the fact that, with few exceptions, socialists themselves are absolutely incompetent as producers. Certain popular contentions with regard to modern economic life, urged by socialists, but not peculiar to socialism, still remain to be considered in the following chapters.
CHAPTER XII
THE JUST REWARD OF LABOUR AS ESTIMATED BY ITS ACTUAL PRODUCTS
Modern socialists admit that of the wealth produced to-day labour does not produce the whole, but that some part is produced by directive ability. But they contend that labour produces more than it gets. We can only ascertain if such an assertion is correct by discovering how to estimate with some precision the amount produced by labour and ability respectively.
But since for the production of the total product labour and ability are both alike necessary, how can we say that any special proportion of it is produced by one or the other?
J.S. Mill's answer to this question.
The profound error of Mill's argument.
Practically so much of any effect is due to any one of its causes as would be absent from this effect were the cause in question taken away. Illustrations.
Labour itself produces as much as it would produce were there no ability to direct it.
The argument which might be drawn from the case of a community in which there was no labour.
Such an argument illusory; for a community in which there was no labour would be impossible; but the paralysis of ability, or its practical non-existence possible.
Practical reasoning of all kinds always confines itself to the contemplation of possibilities. Illustrations.
Restatement of proposition as to the amount of the product of labour.
The product of ability only partially described by assimilating it to rent.
Ability produces everything which would not be produced if its operation were hampered or suspended.
Increased reward of labour in Great Britain since the year 1800. The reward now received by labour far in excess of what labour itself produces.
In capitalistic countries generally labour gets, not less, but far more than its due, if its due is to be measured by its own products.
It is necessary to remember this; but its due is not to be measured exclusively by its own products.
As will be seen in the concluding chapter.
CHAPTER XIII
INTEREST AND ABSTRACT JUSTICE
The proposal to confiscate interest for the public benefit, on the ground that it is income unconnected with any corresponding effort.
Is the proposal practicable? Is it defensible on grounds of abstract justice?
The abstract moral argument plays a large part in the discussion.
It assumes that a man has a moral right to what he produces, interest being here contrasted with this, as a something which he does not produce.
Defects of this argument. It ignores the element of time. Some forms of effort are productive long after the effort itself has ceased.
For examples, royalties on an acted play. Such royalties herein typical of interest generally.
Industrial interest as a product of the forces of organic nature. Henry George's defence of interest as having this origin.
His argument true, but imperfect. His superficial criticism of Bastiat.
Nature works through machine-capital just as truly as it does in agriculture.
Machines are natural forces captured by men of genius, and set to work for the benefit of human beings.
Interest on machine-capital is part of