increasingly important part in capitalist economics. Whatever defects there may be in the Marxian theory, as outlined by Marx himself, and whatever modifications of his statement of it may be rendered necessary by changed conditions, in its main and essential features it has successfully withstood all the criticisms which have been directed against it. Economic literature is full of prophecies, but in its whole range there is not an instance of prophecy more literally and abundantly fulfilled than that which Marx made concerning the trend of capitalist development. And Karl Marx was not a prophet--he but read clearly the meaning of certain facts which others had not learned to read, the law of social dynamics. That is not prophecy, but science. FOOTNOTES: [94] _Studies in the Evolution of Industrial Society_, by R. T. Ely, page 95. [95] _Capital_, Vol. I (Kerr edition), page 837. [96] _Briefe und Auszuege aus Briefen von Joh. Phil. Becker, Jos. Dietzgen, Friederich Engels, Karl Marx u. A. an F. A. Sorge und Andere_, Stuttgart, 1906. [97] H. W. Macrosty, _The Growth of Monopoly in English Industry_ (Fabian Tract). [98] _Our Benevolent Feudalism_, by W. J. Ghent, pages 17-21. [99] A factor of tremendous importance in the maintenance of petty industries and business establishments in this country, which Marx could not have anticipated, has been the unprecedented volume of foreign immigration. Not only have some menial personal services--such as shoe cleaning, for example--been transformed into regular businesses by immigrants from certain countries, but the massing together of immigrants, aliens in language, customs, tastes, and manners, provides a very favorable soil for the development of small business enterprises. [100] _The Social Revolution_, by Karl Kautsky, Part I, page 144. See also the argument by Paul Lafargue, Marx's son-in-law, that Socialism will not oppose petty agriculture by private individuals working their own farms.--_Revue Politique et Parliamentaire_, October, 1898, page 70. [101] Kautsky, _The Social Revolution_, page 144. [102] The figures are quoted from _Socialism Inevitable_, by Gaylord Wilshire, pages 325-326. [103] The table is quoted from _Socialism Inevitable_, by Gaylord Wilshire, page 326. [104] The cost of raising wheat in California, where large farming has been most scientifically developed, is said to vary from 92.5 cents per 100 pounds on farms of 1000 acres to 40 cents on farms of 50,000 acres. [105] _The American Farmer_, by A. M. Simons, page 97. [106] _Studies in the Evolution of Industrial Society_, by Richard T. Ely, page 255. [107] _Die Voraussetzungen des Sozialismus_, by Edward Bernstein, page 47. [108] _Studies in the Evolution of Industrial Society_, by Richard T. Ely, pages 261-262. [109] _Essai sur la repartition des richesses et sur la tendance a une moindre inegalite des conditions_, par Leroy-Beaulieu, page 564.