"Do you mean to say, then, that the capitalist does not perform a useful function in running a risk for the profit he receives?--No. In so far as he exercises the function of management and receives remuneration for this, his remuneration is not profit at all, but wages of superintendence, and the functions of management would be undertaken by the organised society of the future through its appointed representatives. As to any necessary risks, all individuals would be relieved from this under Socialism, as it would be borne by the whole of society."[435] "If capitalists attempt to justify their way of making profit by saying that they have to run risks sometimes, that a part of their property might occasionally be lost, we answer that labour has nothing to do with that."[436] Capital large and small is the result of thrift. If capital is theft, then thrift also is theft. The thrifty investor, being an immoral person, has no right to protest against the confiscation of his property. "By capitalist I mean the investor who puts his money into a concern and draws profits therefrom without participating in the organisation or management of the business. Were all these to disappear in the night, leaving no trace behind, nothing would be changed."[437] Nothing would be changed for the Socialist agitator, the loafer, and the tramp. On the contrary, they would profit from the ruin of the industrious and the thrifty. The fact that honest and hardworking men who do their duty to their family and who wish to leave their children provided for should have the result of the economy of a lifetime confiscated matters little to the Socialist leaders. According to the Socialist doctrines the industrious and the thrifty are thieves and exploiters of those workers who have never saved a penny. On the other hand, those men who live from hand to mouth, who work only a few days each week and loaf on the remaining days, who waste all their earnings in drink, gambling, and music-halls, and who possess nothing they can call their own, are honest and excellent citizens. They are entitled to the savings of the thrifty. In accordance with the Socialist principles stated in the foregoing, all shareholders, being merely exploiters of labour, would be expropriated. "Are shareholders in companies useful in organising labour?--As a rule they employ others to organise labour, and the work done by the company would go on just as well if the shareholders disappeared."[438] Besides, "Stocks when analysed, in nine cases out of ten simply mean the right to squeeze tribute out of workers who are nominally free. By far the greatest part of what is set down as national 'capital' is merely slave flesh-and-blood."[439]