You can guess the inevitable result. It may take a genius to invent, say a steam-engine, but once it is invented a couple of ordinary workmen can keep it going; and when it is worn out any ordinary engineering firm can replace it by copying it. Also, though it may need exceptional talent, initiative, energy, and concentration to set up a new business, yet when it is once set up, and the routine of working it established, it can be kept going by ordinary persons who have learnt the routine, and whose rule is “When in doubt as to what to do, see what was done the last time, and do it over again”. Thus a very clever man may build up a great business, and leave it to his quite ordinary son to carry on when he is dead; and the son may get on very well without ever really understanding the business as his father did. Or the father may leave it to his daughter with the certainty that if she cannot or will not do the directing work herself, she can easily hire employee-employers who can and will, for a salary plus a percentage. The famous Krupp factory in Germany belongs to a lady. I will not go so far as to say that managerial ability has become a drug in the market, though, in the little businesses which are still conducted in the old way in the poorer middle class, the employer often has to pay his more highly skilled employees more than he gets out of the business for himself. But the monopoly of business technique which made the capitalist-employer supreme in the nineteenth century has gone for ever. Employers today are neither capitalists nor monopolists of managerial ability. The political and social power which their predecessors enjoyed has passed to the financiers and bankers, who monopolize the art of collecting millions of spare money. That monopoly will be broken in its turn by the communization of banking, to which we shall come presently.