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tive advertising matter, at a time when the most exacting economy of work and materials is a matter of urgent and acknowledged public need; with nothing better to show for it than an increased cost of all the goods advertised, most of which are superfluities. This, too, is only a typical case, duplicated by the thousand, as nearly as the businesslike management of the other magazines and newspapers can achieve the same result. These are familiar instances of business as usual under the new order of industry. They are neither extreme nor extraordinary. Indeed the whole business community is run through with enterprise of this kind so thoroughly that this may fairly be said to be the warp of the fabric. In effect, of course, it is an enterprise in subreption; but in point of moral sentiment and conscious motive it is nothing of the kind.

All these intricate arrangements for doing those things that we ought not to have done and leaving undone those things that we ought to have done are by no means maliciously intended. They are only the ways and means of diverting a sufficient share of the annual product to the benefit of the legitimate beneficiaries, the kept classes. But this apparatus and procedure for capturing and dividing this share of the community's annual dividend is costly is tempted to say unduly costly. It foots up to, perhaps, something like one-half of the work done, and it is occupied with taking over something like one-half of the output produced by the remaining one-half of the year's work. And yet, as a business proposition it seems sound enough, inasmuch as the income which it brings to the beneficiaries will presumably


foot up to something like one-half of the country's annual production.

There is nothing gained by finding fault with any of this businesslike enterprise that is bent on getting something for nothing, at any cost. After all, it is safe and sane business, sound and legitimate, and carried on blamelessly within the rules of the game. One may also dutifully believe that there is really no harm done, or at least that it might have been worse. It is reassuring to note that at least hitherto the burden of this overhead charge of 50 percent plus has not broken the back of the industrial community. It also serves to bring under a strong light the fact that the state of the industrial arts as it runs under the new order is highly productive, inordinately productive. And, finally, there should be some gain of serenity in realising how singularly consistent has been the run of economic law through the ages, and recalling once more the reflection which John Stuart Mill arrived at some half-a-century ago, that, “Hitherto it is questionable if all the mechanical inventions yet made have lightened the day's toil of any human being."




THERE are certain saving clauses in common use among persons who speak for that well-known order of pecuniary rights and obligations which the modern point of view assumes as "the natural state of Among them are these: "Given the state of the industrial arts"; "Other things remaining the same "; " In the long run "; " In the absence of disturbing causes." It has been the praiseworthy endeavor of the votaries of this established law and custom to hold fast the good old plan on a strategic line of interpretation resting on these provisos. There have been painstaking elucidations of what is fundamental and intrinsic in the way of human institutions, of what essentially ought to be, and of what must eventually come to pass in the natural course of time and change as it is believed to run along under the guidance of those indefeasible principles that make up the modern point of view. And the disquieting incursions of the New Order have been disallowed as not being of the essence of Nature's contract with mankind, within the constituent principles of the modern point of view stabilised in the eighteenth century.

Now, as has already been remarked in an earlier passage, the state of the industrial arts has at no

time continued unchanged during the modern era; consequently other things have never remained the same; and in the long run the outcome has always been shaped by the disturbing causes. All this reflects no discredit on the economists and publicists who so have sketched out the natural run of the present and future in the dry light of the eighteenth-century principles, since their reservations have not been observed. The arguments have been as good as the premises on which they proceed, and the premises have once been good enough to command unquestioning assent; although that is now some time ago. The fault appears to lie in the unexampled shifty behavior of the latterday facts. Yet however shifty, these facts, too, are as stubborn as others of their kind.

The system of free competition, self-help, equal opportunity and free bargaining which is contemplated by the modern point of view, assumes an industrial situation in which the work and trading of any given individual or group can go on freely by itself, without materially helping or hindering the equally untrammeled working of the rest. It has, of course, always been recognised that the country's industry makes up something of a connected system; so that there would necessarily be some degree of mutual adjustment and accommodation among the many self-sufficient working units which together make up the industrial community; but these working units have been conceived to be so nearly independent of one another that the slight measure of running adjustment needed could be sufficiently.

taken care of by free competition in the market. This assumption has, of course, never been altogether sound at any stage in the industrial advance; but it has at least been within speaking distance of facts so late as the eighteenth century. It was a possible method of keeping the balance in the industrial system before the coming of the machine industry. Quite evidently it commended itself to the enlightened common sense of that time as a sufficiently workable ideal. So much so that it then appeared to be the most practical solution of the industrial and social difficulties which beset that generation. It is fairly to be presumed that the plan would still be workable in some fashion today if the conditions which then prevailed had continued unchanged through the intervening one hundred and fifty years, if other things had remained the same. All that was, in effect, before the coming of the machine technology and the later growth of population.

But as it runs today, according to the new industrial order set afoot by the machine technology, the carrying-on of the community's industry is not well taken care of by the loose corrective control which is exercised by a competitive market. That method is too slow, at the best, and too disjointed. The industrial system is now a wide-reaching organisation of mechanical processes which work together on a comprehensive interlocking plan of give and take, in which no one section, group, or individual unit is free to work out its own industrial salvation except in active copartnership with the rest; and the whole of which runs on as a moving equilibrium of forces in action. This system of interlocking processes

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