That social ideas which follow the line of real life will rouse objections on every side, is a matter of course. For real life breeds contradictions. And anyone, who is thinking in accordance with life, will determine on realising arrangements that involve living contradictions, needing again other arrangements to reconcile them. He must not suppose, that an institution which is demonstrably, to his thinking, an "ideally perfect" one, will involve no contradictions when realised in practice. The socialism of the present day is absolutely justified in laying down the proposition, that the institutions of the modern age, in which production is carried on for individual profit, must be replaced by a different system, under which production shall be carried on for the general consumption. But anyone, who fully and wholly accepts this proposition will not arrive at the deduction drawn by modern socialism: Ergo, the means of production must be transferred from private to communal ownership. Indeed, he will be forced to a very different conclusion, namely, that right methods must be taken for conveying to the general community that which is privately produced on the strength of individual energy and capacity. The tendency of the economic impulses of the new age has been to obtain revenue by manufacturing in mass. The aim of the future must be, to find out, by means of Associations, what, in view of the actual needs of consumption, is the best method of production, and what channels are open from producer to consumer. The "rights" institutions will take care, that a productive industry does not remain tied up with any individual or group of people longer than their personal ability warrants. Instead of communal ownership of the means of production, there will be a circulation of the means of production throughout the body social, bringing them constantly afresh into the hands of those persons whose individual ability can employ them to the best service of the community. That connection between personality and the means of production, which hitherto has been effected by private ownership, will thus be established for periods of time. For it will be thanks to the means of production that the head of a business and his subordinates are enabled by their personal abilities to earn the income that they asked. They will not fail to make production as perfect as possible, since every improvement brings them, not indeed the whole profits, but a portion of the returns. For profits,--as shewn above,--go to the community only to the extent of what is over, after deducting the quota due to the producer for improvements in production. And it is in the spirit of the whole thing, that, if production falls off, the producer's income must diminish in proportion as it rises with the enhancement of production. But always, in every case, the manager's income will come out of the spiritual work he has done. It will not