The history of the last century shows, as we shall see later, that the advice given to governments by bankers, like the advice they gave to industrialists, was consistently good for bankers, but was often disastrous for governments, businessmen, and the people generally.

On this basis, which was originally financial and goes back to George Peabody, there grew up in the twentieth century a power structure between London and New York which penetrated deeply into university life, the press, and the practice of foreign policy.

Capitalism might be defined, if we wish to be scientific, as a form of economic organization motivated by the pursuit of profit within a price structure.

The process by which civilization, as an abstract entity distinct from the societies in which it is embodied, dies or is reborn is a very significant one.

The hope for the twentieth century rests on recognition that war and depression are man-made, and needless. They can be avoided in the future by turning from the nineteenth-century characteristics just mentioned (materialism, selfishness, false values, hypocrisy, and secret vices) and going back to other characteristics that our Western Society has always regarded as virtues: generosity, compassion, cooperation, rationality, and foresight, and finding a increased role in human life for love, spirituality, charity, and self discipline.

The growth of financial capitalism made possible a centralization of world economic control and use of this power for the direct benefit of financiers and the indirect injury of all other economic groups.

This priesthood became a closed group, able to control enormous wealth and incomes, and concerned very largely with the study of the solar and astronomical periodicities on which there influence was originally based. With the surplus thus created, the priesthood was able to command human labor in huge amounts and to direct this labor from the simple tillage of the peasant peoples to the diversified and specialized activities that constitute civilized living.