as well as the most heroic sacrifices. The deep-rooted selfishness which forms the general character of the existing state of society, is _so_ deeply rooted, only because the whole course of existing institutions tends to foster it; and modern institutions in some respects more than ancient, since the occasions on which the individual is called on to do anything for the public without receiving its pay, are far less frequent in modern life, than the smaller commonwealths of antiquity. These considerations did not make us overlook the folly of premature attempts to dispense with the inducements of private interest in social affairs, while no substitute for them has been or can be provided: but we regarded all existing institutions and social arrangements as being (in a phrase I once heard from Austin) "merely provisional," and we welcomed with the greatest pleasure and interest all socialistic experiments by select individuals (such as the Co-operative Societies), which, whether they succeeded or failed, could not but operate as a most useful education of those who took part in them, by cultivating their capacity of acting upon motives pointing directly to the general good, or making them aware of the defects which render them and others incapable of doing so. In the _Principles of Political Economy_, these opinions were promulgated, less clearly and fully in the first edition, rather more so in the second, and quite unequivocally in the third. The difference arose partly from the change of times, the first edition having been written and sent to press before the French Revolution of 1848, after which the public mind became more open to the reception of novelties in opinion, and doctrines appeared moderate which would have been thought very startling a short time before. In the first edition the difficulties of Socialism were stated so strongly, that the tone was on the whole that of opposition to it. In the year or two which followed, much time was given to the study of the best Socialistic writers on the Continent, and to meditation and discussion on the whole range of topics involved in the controversy: and the result was that most of what had been written on the subject in the first edition was cancelled, and replaced by arguments and reflections which represent a more advanced opinion.