The first issue to be settled is whether socialism has a right to exist. Are its allegations concerning the present system true? Is industry proceeding on a principle of fraud? I wish to test the power of recent economic theory to give an exact answer to this question.

A laborer no longer makes whole articles. He receives raw materials, puts his touch on them, and passes them to another worker in the series. When the articles are quite finished they are carried out of sight by currents of commercial exchange. These currents are untraceable.

Socialism appeals to better classes and has far more strength. Attack the state and you excite feelings of loyalty even among the disaffected classes; but attack the industrial system and appeal to the state, and you may have loyalty in your favor.

The first issue to be settled is whether socialism has a right to exist. Are its allegations concerning the present system true? Is industry proceeding on a principle of fraud? I wish to test the power of recent economic theory to give an exact answer to this question.

If a man were living in isolation his income would be literally his product. Make him the monarch and owner of an island, and the fruits that he raises and the clothing that he makes constitute, in themselves, his income. This ceases to be true when trading begins.

If the adjustment made by a court can be accepted or not, it will be refused whenever the men can gain more by continuing the strike, with whatever of violence that involves.

As the work progresses the careful reader will insert mental interrogation points here and there. He will find that his interest increases as the interrogation points become more frequent, and that it culminates where they are changed to marks of positive dissent. I venture to record the opinion that the value of the work reaches a maximum in a passage that is demonstrably incorrect.