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Once the crisis were past； the ruling class； still holding the curb in
order to make itself more secure； would proceed to readjust things and to
balance consumption with production。 Having a monopoly of the safe
investments； the great masses of unremunerative capital would be directed；
not to the production of more surplus value； but to the making of
permanent improvements； which would give employment to the people；
and make them content with the new order of things。 Highways； parks；
public buildings； monuments； could be builded； nor would it be out of
place to give better factories and homes to the workers。 Such in itself
would be socialistic； save that it would be done by the oligarchs； a class
apart。 With the interest rate down to zero； and no field for the investment
of sporadic capital； savings among the people would utterly cease； and
old…age pensions be granted as a matter of course。 It is also a logical
necessity of such a system that； when the population began to press
against the means of subsistence； （expansion being impossible）； the birth
rate of the lower classes would be lessened。 Whether by their own
initiative； or by the interference of the rulers； it would have to be done；
and it would be done。 In other words； the oligarchy would mean the
capitalization of labor and the enslavement of the whole population。 But it
would be a fairer； juster form of slavery than any the world has yet seen。
The per capita wage and consumption would be increased； and； with a
stringent control of the birth rate； there is no reason why such a country
should not be so ruled through many generations。
On the other hand； as the capitalistic exploitation of the planet
approaches its maximum； and countries are crowded out of the field of
foreign exchanges； there is a large likelihood that their change in direction
will be toward socialism。 Were the theory of collective ownership and
operation then to arise for the first time； such a movement would stand
small chance of success。 But such is not the case。 The doctrine of
socialism has flourished and grown throughout the nineteenth century； its
tenets have been preached wherever the interests of labor and capital have
clashed； and it has received exemplification time and again by the State's
assumption of functions which had always belonged solely to the
individual。
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War of the Classes
When capitalistic production has attained its maximum development；
it must confront a dividing of the ways； and the strength of capital on the
one hand； and the education and wisdom of the workers on the other； will
determine which path society is to travel。 It is possible； considering the
inertia of the masses； that the whole world might in time come to be
dominated by a group of industrial oligarchies； or by one great oligarchy；
but it is not probable。 That sporadic oligarchies may flourish for definite
periods of time is highly possible； that they may continue to do so is as
highly improbable。 The procession of the ages has marked not only the
rise of man； but the rise of the common man。 From the chattel slave； or the
serf chained to the soil； to the highest seats in modern society； he has risen；
rung by rung； amid the crumbling of the divine right of kings and the crash
of falling sceptres。 That he has done this； only in the end to pass into the
perpetual slavery of the industrial oligarch； is something at which his
whole past cries in protest。 The common man is worthy of a better future；
or else he is not worthy of his past。
NOTE。The above article was written as long ago as 1898。 The only
alteration has been the bringing up to 1900 of a few of its statistics。 As a
commercial venture of an author； it has an interesting history。 It was
promptly accepted by one of the leading magazines and paid for。 The
editor confessed that it was 〃one of those articles one could not possibly
let go of after it was once in his possession。〃 Publication was voluntarily
promised to be immediate。 Then the editor became afraid of its too radical
nature； forfeited the sum paid for it； and did not publish it。 Nor； offered far
and wide； could any other editor of bourgeois periodicals be found who
was rash enough to publish it。 Thus； for the first time； after seven years； it
appears in print。
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War of the Classes
A REVIEW
Two remarkable books are Ghent's 〃Our Benevolent Feudalism〃 ｛7｝
and Brooks's 〃The Social Unrest。〃 ｛8｝ In these two books the opposite
sides of the labor problem are expounded； each writer devoting himself
with apprehension to the side he fears and views with disfavor。 It would
appear that they have set themselves the task of collating； as a warning；
the phenomena of two counter social forces。 Mr。 Ghent； who is
sympathetic with the socialist movement； follows with cynic fear every
aggressive act of the capitalist class。 Mr。 Brooks； who yearns for the
perpetuation of the capitalist system as long as possible； follows with
grave dismay each aggressive act of the labor and socialist organizations。
Mr。 Ghent traces the emasculation of labor by capital； and Mr。 Brooks
traces the emasculation of independent competing capital by labor。 In
short； each marshals the facts of a side in the two sides which go to make a
struggle so great that even the French Revolution is insignificant beside it；
for this later struggle； for the first time in the history of struggles； is not
confined to any particular portion of the globe； but involves the whole of
it。
Starting on the assumption that society is at present in a state of flux；
Mr。 Ghent sees it rapidly crystallizing into a status which can best be
described as something in the nature of a benevolent feudalism。 He laughs
to scorn any immediate realization of the Marxian dream； while Tolstoyan
utopias and