A Critical Examination of SocialismMallock, W. H. (William Hurrell)
Philosophy
A Critical Examination of Socialism
Mallock, W. H. (William Hurrell)
Communism; Socialism
Practically so much of any effect is due to any one of its
causes as would be absent from this effect were the cause in
question taken away. Illustrations.
Labour itself produces as much as it would produce were there no
ability to direct it.
The argument which might be drawn from the case of a community
in which there was no labour.
Such an argument illusory; for a community in which there was no
labour would be impossible; but the paralysis of ability, or its
practical non-existence possible.
Practical reasoning of all kinds always confines itself to the
contemplation of possibilities. Illustrations.
Restatement of proposition as to the amount of the product of
labour.
The product of ability only partially described by assimilating
it to rent.
Ability produces everything which would not be produced if its
operation were hampered or suspended.
Increased reward of labour in Great Britain since the year 1800.
The reward now received by labour far in excess of what labour
itself produces.
In capitalistic countries generally labour gets, not less, but
far more than its due, if its due is to be measured by its own
products.
It is necessary to remember this; but its due is not to be
measured exclusively by its own products.
As will be seen in the concluding chapter.
CHAPTER XIII
INTEREST AND ABSTRACT JUSTICE
The proposal to confiscate interest for the public benefit, on
the ground that it is income unconnected with any corresponding
effort.
Is the proposal practicable? Is it defensible on grounds of
abstract justice?
The abstract moral argument plays a large part in the
discussion.
It assumes that a man has a moral right to what he produces,
interest being here contrasted with this, as a something which
he does not produce.
Defects of this argument. It ignores the element of time. Some
forms of effort are productive long after the effort itself has
ceased.
For examples, royalties on an acted play. Such royalties herein
typical of interest generally.
Industrial interest as a product of the forces of organic
nature. Henry George's defence of interest as having this
origin.
His argument true, but imperfect. His superficial criticism of
Bastiat.
Nature works through machine-capital just as truly as it does in
agriculture.
Machines are natural forces captured by men of genius, and set
to work for the benefit of human beings.
Interest on machine-capital is part of an extra product which
nature is made to yield by those men who are exceptionally
capable of controlling her.
Public-domain text, read in full here on John Shaqi.
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