who fails to see this, says Marlo, fails to understand the spirit of his time. It is always the national idea of right that governs both in social and political relations, and as long as the national idea of right is that of Liberalism, we shall continue to have capitalism and a plutocracy. It is the mind that builds the body up, and it is only when a new system of right has taken as complete possession of the national consciousness as Liberalism did in 1789, that the present social conflict will cease and a better order of things come in. From want of such a system of right--from want even of seeing the necessity for it, Liberalism has defeated its own purpose. It sought to abolish monopoly; it has only substituted for the old monopoly of birth the more grievous monopoly of wealth. It sought to establish freedom; it has only established plutocratic tyranny. It has erred because it took for freedom an abstraction of its own and tried to realize that, just as Communism erred by taking for equality an abstraction of its own and trying to realize that. The most perfect state of freedom is not reached when every man has the power of doing what he likes, any more than the most perfect state of equality is reached when every man has equal things with every other; but the greatest possible freedom is attained in a condition of society where every man has the greatest possible play-room for the development of his personality, and the greatest possible equality is attained in exactly the same state of things. Real freedom and real equality are in fact identical. Every right contains from the first a social element as well as an individual element, and it cannot be realized in the actual world without observing a due adjustment between these two elements. Such an adjustment can only be discovered by a critical examination of the economic constitution of society, and must then be expressed in a distinct system of industrial right, which imposes on individual action its just limits. True liberty is liberty within these limits; and the true right of property is a right of property under the same conditions. The fundamental fault of Liberalism, the cause of its failure, is simply that it goes to work without a sound theory of right, or rather perhaps without any clear theory at all, and merely aims at letting every one do as he likes, with the understanding that the State can always be called in to correct accidents and excesses.