Collectivism; Economic history; Great Britain -- Economic policy; Industrial policy; Social history; Socialism
If I desire to benefit small savings at the expense of large, I must
reverse the whole economy under which interest is paid upon deposits
to-day. It is far easier to save £100 out of a revenue of £1,000 than to
save £10 out of a revenue of £100. It is infinitely easier to save £10 out
of a revenue of £100 than £5 out of a revenue of £50. To build up small
property through thrift when once the Mass have fallen into the proletarian
trough is impossible unless you deliberately subsidise small savings,
offering them a reward which, in competition, they could never obtain; and
to do this the whole vast arrangement of credit must be worked backwards.
Or, let the policy be pursued of penalising undertakings with few owners,
of heavily taxing large blocks of shares and of subsidising with the
produce small holders in proportion to the smallness of their holding. Here
again you are met with the difficulty of a vast majority who cannot even
bid for the smallest share.
One might multiply instances of the sort indefinitely, but the strongest
force against the distribution of ownership in a society already permeated
with Capitalist modes of thought is still the moral one: Will men want to
own? Will officials, administrators, and lawmakers be able to shake off the
power which under Capitalism seems normal to the rich? If I approach, for
instance, the works of one of our great Trusts, purchase it with public
money, bestow, even as a gift, the shares thereof to its workmen, can I
count upon any tradition of property in their midst which will prevent
their squandering the new wealth? Can I discover any relics of the
co-operative instinct among such men? Could I get managers and organisers
to take a group of poor men seriously or to serve them as they would serve
rich men? Is not the whole psychology of a Capitalist society divided
between the proletarian mass which thinks in terms not of property but of
"employment," and the few owners who are alone familiar with the machinery
of administration?
I have touched but very briefly and superficially upon this matter, because
it needs no elaboration. Though it is evident that with a sufficient will
and a sufficient social vitality property could be restored, it is evident
that all efforts to restore it have in a Capitalist society such as our own
a note of oddity, of doubtful experiment, of being uncoordinated with other
social things around them, which marks the heavy handicap under which any
such attempt must proceed. It is like recommending elasticity to the aged.
Public-domain text, read in full here on John Shaqi.
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