Another advantage of Capitalism, purely economic, is the _effectiveness
of human energy_ under this system, at least, _in the first part of its
development_. We spoke of this in the last section.
But the disadvantages are very grave indeed.
Under Capitalism the capitalist himself acts competitively and for a
profit. He does not, like the slave-owner, direct a regular, simple
machine which works evenly year in and year out. He is perpetually
struggling to rise; or suffering, through the rise of others, a fall
of fortune. He is always on the look-out to buy labour as cheaply as
he can and then to sell the product as dearly as he can. There is thus
a perpetual gamble going on, the owners of Capital rapidly growing
rich and poor by turns and a general insecurity gradually poisoning
all the owning part of society. A far worse insecurity affects the
propertyless majority. The Proletariat--that is, the mass of the
State--lives perpetually under the fear of falling into unemployment
and starvation. The lash urging the workman to his fullest effort is
this dread of misery. At first that lash urges men to intense effort,
but later it destroys their energy. Capitalism was marked by nothing
more striking when it first arose than by the immense expansion of
wealth and population which followed it. In every district which fell
under the capitalist system this expansion of total wealth and of total
population could be observed; and England, which has become completely
capitalist, had in the hey-day of its Capitalism--up to the present
generation--a more rapid rate of expansion in wealth and population
than any other ancient people. But already the tide has turned, and the
inhumanity of such a life is beginning to breed everywhere an ill-ease
and revolt which threaten our civilisation.
The disadvantages of Capitalism are, in the long run, so great that
now, after not more than a lifetime of complete Capitalism, and that
in only one State--the English State--nearly everybody is profoundly
discontented with it and many people are in violent rebellion against
it. This grinding and increasing insecurity which attaches to the
Capitalist system is killing it. No one is safe for the morrow.
Perpetual competition, increasing with every increase of energy, has
led to a chaos in human society such as there never was before. The
mass of the people, not being slaves, cannot be certain that they will
be kept alive. They live in a state of perpetual anxiety as to whether
their employment will continue; while among the owners themselves the
same anxiety exists in another form. The competition among them gets
more and more severe. The number of owners gets less, and even the
richest of them is more insecure than were the moderately rich of a
generation ago. All society is like a boiling pot, with individuals
suddenly coming into great wealth from below and then dropping out
again; the whole State suffers from an increasing absence of leisure
and an increasing turmoil.
Public-domain text, read in full here on John Shaqi.
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