Part 10

That obsession by economic issues is as local and transitory as it is repulsive and disturbing. To future generations it will appear as pitiable as the obsession of the seventeenth century by religious quarrels appears to-day; indeed, it is less rational, since the object with which it is concerned is less important. And it is a poison which inflames every wound and turns each trivial scratch into a malignant ulcer. Society will not solve the particular problems of industry which afflict it, until that poison is expelled, and it has learned to see industry itself in the right perspective. If it is to do that, it must rearrange its scale of values. It must regard economic interests as one element in life, not as the whole of life. It must persuade its members to renounce the opportunity of gains which accrue without any corresponding service, because the struggle for them keeps the whole community in a fever. It must so organize industry that the instrumental character of economic activity is emphasized by its subordination to the social purpose for which it is carried on.

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INDEX

Abolition of private ownership, 147 Absenteeism, 152 Absolute rights, 50-51 Absolutism in industry, 144 Acquisitive societies, 29-32 Administration, 115-116 Allocation of power, 163-164 American Constitution, 18-19, 52 Annuities, 74 Arbitration, compulsory, 101

Bacon, quoted, 58, 181 Bentham, 16, 52, 55 Brain workers, position of the, 161-171 British Coal Industry, reorganization of, 166-171 Building Guilds, 103 Building Trade Report, 106-110 Bureaucracy, 116, 149

Capitalism, and production, 173-176; downward thrust of, 154; in America, 101; losing control, 141-142, 148 Cecil, Lord Hugh, 23, 58 Cecil, Robert, 59 Cecil, William, 59 Church and State, 10-13 Coal Industry Commission, 71, 126, 137, 143; report of, 166-167 Coal Mines Committees, 152 Combinations, 125, 130 Committee on Trusts, 153 Competition, 27 Compulsory arbitration, 101 Confiscations, 103 Conservatism, the New, 28 Consumer, exploitation of the, 133-134 Co-operative Movement and cost of coal, 125

Dante, quoted, 182-183 Death Duties, 22 Democratic control, 116 Dickenson, Sir Arthur Lowes, 71 Directorate control, 129 Duckham, Sir Arthur, 119 Duke of Wellington, quoted, 123

Economic confusion, cause of, 131-132 Economic discontent, increase of, 5 Economic egotism, 27, Economic expansion, 9 Efficiency, the condition of, 139-160; through Esprit de Corps, 149-150 Employer, waning power of the, 140 England, and natural right, 15-16; and France contrasted, 16-17; Industrialism in, 44-47; Liberal Movement in, 18; over-crowding of population in, 37; proprietary rights in, 64 et seq. English landlordism, 22-23 Englishmen, characteristics of, 1-3; vanity of, 129 English Revolution of 1688, 52 Esch-Cummins Act, 118 Expediency, rule of, 16

Feudalism, 18 Fixed salaries, 177-178 Forced labor, 102 France, social and industrial conditions in, 16-17; Feudalism in, 18; Revolution in, 15, 65, 69 French Revolution, 15, 65, 69 Function, definition of, 8; as a basis for remuneration, 41-42; as a basis of social reorganization, 180; Function and Freedom, 7 Functional Society, 29, 84-90 Functionless property-owners, 79, 86; abolishment of, 87-88; an expensive luxury, 87

Gainford, Lord, quoted, 26, 111 Gantt, H. L., 175 Government control in war time, 25-26 Ground-rents, 89-90, 91

Hobson, Mr., 63 "Hundred-Family Man," 178

Imperial Tobacco Company, 116 Incomes, 41 Income Tax, 22 Income without service, 68 Individualism, 48-49 Individual rights, 9 Individual rights vs. social functions, 27 Industrial problems, 7 Industrial reorganization, 151, 155 Industrial revolution, 9 Industrial societies, 9 Industrial warfare, cause of, and remedy for, 40-42 Industrialism, 18; a poison, 184; compared to Militarism, 44-46; exaggerated estimate of its importance, 45-46; failure of present system, 139-141; nemesis of, 33-51; spread of, 30; tendency of, 31-32 Industry, and a profession, 94, 97; as a profession, 91 et seq., 125-126; deficiencies of, 147; definition of, 6; how private control of may be terminated, 103-104; and the advantages of such a change, 106; Building Trades' Plan for, 108, 111; motives in, 155-159; nationalization of, 104, 114-118; present organization of intolerable, 129; purpose of, 8, 46, 181; right organization of, 6-7; the means not the end, 46-47 Inheritance taxes, 90 Insurance, 74

Joint control, 111-112 Joint-stock companies, 66 Joint-stock organizations, 97

Labor, absolute rights of, 28; and capital, 98-100, 108; compulsory, 100; control of breaking down, 139 et seq.; degradation of, 35; forced, 102 League of Nations, 101 Liberal Movement, 18 Locke, 14, 52, 55

Management divorced from ownership, 112-113 Mann, Sir John, 126 Militarism, 44-45 Mill, quoted, 89 Mine managers, position of, 162, 166-168 Mining royalties, 23-24, 88

Nationalism, 48-49 Nationalization, 114, 117; of the Coal Industry, 115, 165, 168-169 Natural right in France, 15; in England, 15-16; doctrine of, 21

Officials, position under the present economic system, 162 Old industrial order a failure, 139; its effect on the consumer, 144 Organization, for public service instead of private gains, 127 Over-centralization, 121 Ownership, a new system of, 112-114

Pensioners, 34 Poverty a symptom of social disorder, 5 Private enterprise and public ownership, 118-120 Private ownership, 120; abolition of, 147; of industrial capital, 105-106 Private rights and public welfare, 14-15 Privileges, 24 Producer, obligation of the, 127-128; responsibility of, 128 Production, increased, 5; large scale and small scale, 87; misdirection of, 37-39; why not increased, 136 Productivity, 4, 46 Professional Spirit, the, 149-150 Profits, and production, 173-176; division of, 133 Proletariat, 19, 65 Property, absolute rights of, 52, 80; and creative work, 52 et seq.; classification of, 63, 64; complexity of, 75; functionless, 76-77, 81; in land, 56-60; in rights and royalties, 62; minority ownership of, 79; most ambiguous of categories, 53-54; passive ownership of, 62; private, 70-72; protection of, 78-70; rights, 50-51; security in, 72-73; socialist fallacy regarding, 86 Proudhon, 54 Publicity of costs and profits, 85, 123-124, 126, 132

Redmayne, Sir Richard, 149 Reformation the, 10-13; effect on society, 12-14 Reform Bill of 1832, 69 Religion, 10; changes in, 11-12 Report of the United States Industrial Commission, 1916, 128-129 Riches, meaning of, 98 Rights of Man, French Declaration of, the, 16, 52 Rights, and Functions, 8-19; doctrine of, 21 et seq., 43-44; without functions, 61 Rights of the shareholder, 75 Royalties, 23-24, 62 Royalties, and property, 70; from coal mining properties, 88; a tax upon the industry of others, 89

Sankey, Justice, 115, 117, 143, 165, 167, 168, 169 Security of income, 73-75 Service as a basis of remuneration, 25, 41-42, 85, 133 Shareholders, 91-92 Shells, cost of making, 124-125 Smith, Adam, 15, 52, 95 Social inequality, 36-37 Social reorganizations, schemes for, 5 Social war, 40 Socialism, 53 Society, duality of modern, 135 Society, functional organization of, 52 State management, 116, 117 Steel Corporation, 116 Supervision from within, 151 Syndicalism, 130

Taxation, 22 Trusts, Report on, 23

United States, transformation in, 65 Utilitarians, the English, 17 Utility, 16-17

"Vicious Circle," the, 43, 123-138 Voltaire, quoted, 55

Wages and costs, 131 Wages and profits, 78 Wealth, acquisition of, 20 et seq.; as foundation for public esteem, 35-36; distribution of on basis of function, 77; fallacy of increased, 42-45; how to increase output of, 147; inequality of, 37-38; limitation of, 36-37; output of, 37-38; production and consumption of--a contrast, 77-78; waste of, 37-39 Whitley Councils, 110 Women self-supporting, 74 Worker and Spender, 77-78 Workers, collective responsibility of, 154 Workers' control, 128 Workmen, as "hands," 152; present independence of, 145-146; responsibility of destroyed, 153-154; servants of shareholders, 136-137; treatment of, 152-153