Preface

CHAPTER I

Introduction

Changed attitude of the public mind toward Socialism—Growth of the movement responsible for the change—Unanimity of friends and foes concerning the future triumph of Socialism—Herbert Spencer's pessimistic belief—Study of Socialism a civic duty—Nobility of the word "Socialism"—Its first use—Confusion arising from its indiscriminate use—"Socialism" and "Communism" in the Communist Manifesto—Unfair tactics of opponents—Engels on the significance of the word in 1847—Its present significance.

CHAPTER II

Robert Owen and the Utopian Spirit

Utopian Socialism and Robert Owen—Estimates of Owen by Liebknecht and Engels—His early life—Becomes a manufacturer—The industrial revolution in England—Introduction of machinery—"Luddite" riots against machinery—Early riots against machinery—Marx's views—Owen as manufacturer—As social reformer—The New Lanark experiment—He becomes a Socialist—The New Harmony experiment—Abraham Lincoln and New Harmony—Failure of New Harmony—Owen compared with Saint-Simon and Fourier—Emerson's tribute to Robert Owen a fair estimate of the Utopists.

CHAPTER III

The "Communist Manifesto" and the Scientific Spirit

The Communist Manifesto called the birth-cry of modern Socialism—Conditions in 1848 when it was issued—Communism of the working class—Weitling and Cabet—Marx's parents become Christians—Marx and Engels—Religious spirit of Marx—Note upon the confusion of Marx with Wilhelm Marr—The Manifesto as the first declaration of a working-class movement—Literary merit of the Manifesto—Its fundamental proposition stated by Engels—Socialism becomes scientific—The authorship of the Manifesto—Engels' testimony.

CHAPTER IV

The Materialistic Conception of History

Socialism a theory of social evolution—Not economic fatalism—Leibnitz and the savage—Ideas and progress—Value of the materialistic conception of history—Foreshadowings of the theory—What is meant by the term "materialistic conception"—Results of overemphasis: Engels' testimony—Application of the theory to religion—Influence of social conditions upon religious forms—The doctrine of "free will"—Darwin and Marx—Application of the theory, specific and general—Columbus and the discovery of America—General view of historical progress—Antiquity of communism—CoÖperation and competition—Slavery—Serfdom—Class struggles—The rise of capitalism and the wage system.

CHAPTER V

Capitalism and the Law of Concentration

A new form of class division arises in the first stage of capitalism—The second stage of capitalism begins with the great mechanical inventions—The development of foreign and colonial trade—Theoretic individualism and practical collectivism—The law of capitalist concentration formulated by Marx—Competition, monopoly, socialization—Trustification, interindustrial and international—Criticisms of the Marxian theory—Engels on the attempts to make a "rigid orthodoxy" of the Marx theory—The small producers and traders—Concentration in production—Failure of the bonanza farms and persistence of the small farms—Other forms of agricultural concentration—Farm ownership and farm mortgages—The factory and the farm—The concentration of wealth—European and American statistics—Concentration of the control of wealth independent of actual ownership—Growth of immense fortunes—General summary.

CHAPTER VI

The Class Struggle Theory

Opposition to the doctrine—Misrepresentations by the opponents of Socialism—Socialists not the creators of the class struggle—Antiquity of class struggles—The theory as stated in the Communist Manifesto—Fundamental propositions in the statement—Slavery the first system of class divisions—Class divisions in feudalism—Rise of the capitalist class and its triumph—Inherent antagonism of interests between employer and employee—Commonalit of general interests and antagonism of special class interests—Adam Smith on class divisions—Individuals versus classes—Analysis of the class interests of the population of the United States—Class interests as they affect thoughts, opinions, and beliefs—Varying ethical standards of economic classes—Denial of class divisions in America—Our "untitled nobility"—Class divisions real though not legally established—They tend to become fixed and hereditary—Consciousness of class divisions new in America—Transition from class to class becoming more difficult—No hatred of individuals involved in the theory—Socialism versus Anarchism—The labor struggle in the United States—Not due to misunderstandings, but to antagonism of interests—The reason for trade unionism—Trade union methods—Dual exploitation of the workers—Government and the workers—Capitalistic use of police and military—Judicial injunctions—"Taff Vale" law—Political rising of the workers—Triumph of the working class will liberate all mankind and end class rule.

CHAPTER VII

Karl Marx and the Economics of Socialism

First comprehensive statement of the materialist conception of history by Marx—La MisÈre de la Philosophie, a criticism of Proudhon—Marx's first essay in economic science—His frank recognition of the Ricardians—Marx in England becomes familiar with the work of the Ricardians from whom he is accused of "pillaging" his ideas—Criticisms of Menger and others—Marx expelled from Germany and France—Removal to London—The struggle with poverty—Domestic life—Capital an English work in all essentials—The Ricardians and their precursors—Superior method and insight of Marx—The sociological viewpoint in economics—Mr. W. H. Mallock's criticisms of Marx based upon misrepresentation and misstatement—Marx on the Gotha Programme of the German Social Democracy—Marx on the "ability of the directing few"—No ethical deductions in the Marxian theory—"Scientific Socialism," criticisms of the term.

CHAPTER VIII

Outlines of Socialist Economic Theory

The sociological viewpoint pervades all Marx's work—Commodities defined—Use-values and economic values—Exchange of commodities through the medium of money—The labor theory of value in its crude form—Marx and Benjamin Franklin—Some notable statements by the classic economists—Scientific development of the labor theory of value by Marx—"Unique values"—Price and value—Money as a price-expression and as a commodity—The theory of supply and demand as determinants of value—The "Austrian" theory of final utility as the determinant of value—The Marxian theory not necessarily exclusive of the theory of final, or marginal, utility—Labor-power as a commodity—Wages, its price, determined as the prices of all other commodities are—Wherein labor-power differs from all other commodities—"Surplus Value": why Marx used the term—The theory stated—The division of surplus value—No moral judgment involved in the theory—Other theories of the source of capitalist income—Wherein they fail to solve the problem—Fundamental importance of the doctrine.

CHAPTER IX

Outlines of the Socialist State

Detailed specifications impossible—Principles which must characterize it—Man's egoism and sociability—Socialism and Individualism not opposites—The idea of the Socialist state as a huge bureaucracy—Mr. Anstey's picture and Herbert Spencer's fear—Justification of this view in Socialist propaganda literature—Means of production, individual and social—Professor Goldwin Smith's question—The Socialist ideal of individual liberty—Absolute personal liberty not possible—Spencer's abandonment of laissez faire—Political organization of Socialist rÉgime must be democratic—Automatic democracy unattainable—The need of eternal vigilance—Delegated authority—The rights of the individual and of society briefly stated—Private property and industry not incompatible with Socialism—Public ownership not the end, but only a means to an end—Economic structure of the Socialist state—Efficiency the test for private or public industry—The application of democratic principles to industry—The right to labor guaranteed by society, and the duty to labor enforced by society—Free choice of labor—Mode of remuneration—Who will do the dirty work?—The "abolition of wages"—Approximate equality attainable by free play of economic law under Socialism—Hoarded wealth—Inheritance—The security of society against the improvidence of its members—The administration of justice—Education completely free—The question of religious education—The state as protector of the child—Strict neutrality upon religious matters—A maximum of personal liberty with a minimum of restraint.

CHAPTER X

The Means of Realization

Impossible to tell definitely how the change will be brought about—Possible only to point out tendencies making for Socialism, and to show how the change can be brought about—Marx's "catastrophe theory" a lapse into Utopian methods of thought—His deeper thought—Testimony of Liebknecht—Socialism not to be reached through a coup de force—The political changes necessary for Socialism—Tendencies making for socialization of industry—Monopolies, coÖperative societies, the vast extension of collectivism within the capitalist system—Confiscation or compensation?—Change to Socialism to be legal and gradual—Engels and Marx favored compensation—The widow's savings—Elimination of unearned
incomes—Violence not necessary.

INDEX

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SOCIALISM