[15] In justice to that large class of economists who strive to suit the stubborn fingers of the economic man to the lute of social life, it may be said that their dislike of the egoistic motive is due simply to its being egoistic. If struggle and fight is the necessary and healthy condition of industry and commerce, then the utmost demand of the reformer must be a fair field for every one and no favour; if the ethics of commerce are necessarily the ethics of war, we may weep over the fallen but we shall not waste our time crying mercy. But a great many people—and these not the worst economists—think that the economic field may justly be regarded, not as a battle, but as a harvest field, where the greatest results are to be had, not by fighting against, but by working with each other. For the last hundred years, they would say, men have been dazzled by the new possibilities of life which the great increase of wealth has opened up, and the solidarity of mankind has been broken up by the eagerness of each to get hold of an advantage which, obviously, could only be had by the few. Now that the world is passably rich, should we not draw breath, and try to organise the industrial life with an end to the _character_ and _conduct_ of the workers? Ideas like these have a way of making the egoistic motive seem a little contemptible. But, in justice also to the practical man, it must be said that he ridicules all this mainly because he does not understand that it is a new point of view—the subordination of the economic to the higher life—and because his spiritual advisers have long allowed him to think that the business life has canons of its own, with which “theoretic” morality may not intermeddle. _1st Case._ (Isolated Exchange.) A peasant B wishes to buy a horse, and his circumstances are such that he puts the same estimate upon £60 as he does on the possession of a horse. His neighbour S has a horse which he values as worth £20. Here there will certainly be an exchange, as, at a price, say of £40 both make a gain of £20 over the amount at which, in the worst case, they are willing to exchange. But if the exchangers act on the principle “better a small profit than no exchange,” the price may be anything above £20 or under £60, and the actual figure is determined by the “higgling of the market.” Here, then, the price will lie between a minimum of the seller’s subjective valuation and a maximum of the buyer’s subjective valuation.