La Réunion, a French Settlement in TexasHammond, William Jackson
History
La Réunion, a French Settlement in Texas
Hammond, William Jackson
French -- Texas; Réunion (Tex.)
This new system became known as socialism and was a middle class
movement which developed out of the shattered eighteenth century era.
Side by side with socialism developed communism, a doctrine developed
out of the working class needs which, it was thought by some, neither
socialism nor capitalism could satisfy. Socialism, as maintained by
nineteenth century philosophers, stemmed not only from the old
totalitarian doctrine of the Greek city-state but from the old concept
of a universal pattern of cultural religion and economics of the
medieval period. The philosophers were only substituting economics for
medieval religion in the new social theory. The spirit of co-operative
good, of theoretical equality and ultimate perfection of society are
common to both Utopian socialism and religion. The socialists visualized
a world of productivity sufficient to abolish poverty and furnish
abundance to those who worked. The problem, as they understood it, was
to prevent the concentration of enormous wealth in the hands of a few
individuals by which those who possess wealth deprive the masses of
equitable distribution of goods. This concentration could be prevented,
so thought the socialist, if production and distribution could remain in
control of the people who produced the materials. The socialist dreamed
of an economy in which there would be a social development along with
the economic but in which all inequality and special privilege would be
eliminated from both political and economic life. One writer has defined
socialism as:
A socialized industry is one in which the material instruments of
production are owned by a public authority or voluntary association
and operated, not with a view to profit by sale to other people, but
for the direct service of those whom the authority or association
represents. A socialized system is one the main part of whose
productive resources are engaged in socialized industries.[2]
Over against the socialist theory was the pragmatic theory of capitalism
already operating in many parts of Europe and America. The same writer
defines capitalism as:
A capitalist industry is one in which the material instruments of
production are owned or hired by private persons and are operated at
their orders with a view to selling at a profit the goods or services
that they help to produce. A capitalist economy, or capitalist system,
is one the main part of whose productive resources is engaged in
capitalist industries.[3]
Public-domain text, read in full here on John Shaqi.
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