Our present predicament comes from the fact that running the economy on blood is no longer fashionable. We can't end this depression with another war.

Thus, the capital owner is not a parasite or a rentier but a worker - a capital worker. A distinction between labor work and capital work suggests the lines along which we could develop economic institutions capable of dealing with increasingly capital-intensive production, as our present institutions cannot.

If capital produces most of the economy's wealth and income is distributed on the basis of productive input, the individual can hardly reach his goal - an affluent level of income - solely by means of his labor.

No Keynesian has ever proposed a measure designed to make the individual more productive; for that would require institutional means for enabling him to acquire ownership of the nonhuman factor of production: capital.

The primary cause of disorder and lawlessness today, as throughout history, is the poverty of the many in contrast to the affluence of the few. But a new element of unrest has been added: a growing awareness that mass poverty is caused by defective institutions that prevent our harnessing the physical capabilities of science, engineering, management and labor to create general affluence; in other words, a growing awareness that poverty in any country that is or can be industrialized, is man's not nature's fault.

What have the masses been clamoring for? Jobs and welfare, and they got 'em. They've also got unions and managements like two armies converting the whole economy into a battleground with the customers as victims, except that the victims are also in the army. They think in battle terms by day and like customers at night.

The totalitarian toil-state originates in the propertylessness of the majority.