Socialism

III. Further examination of the Socialist theory of value
and principle of distribution. Objections: diminished
stimulus to labour on the part of the generality.
Impossibility of keeping values fixed as required by

SECT.

the scheme. Foreign trade under Collectivism.
Difficulties of carrying it on in the absence of the
money measure of values. Difficulty of keeping
values of foreign commodities fixed

PAGE

204-212

IV. Final conclusion as to the Socialist principle of

distribution .

212-215

CHAPTER VII.

IN THE SOCIALIST STATE (continued).

THE SUPPRESSION OF MONEY AND MARKETS.

I. How far the abolition of money proposed by the col-

lectivists is possible. The labour cheques would

take the place of money: Would be subject to

all the evils of inconvertible paper-money, with other

unknown evils. Impossibility of suppressing market

values and speculation under Socialism. Probable

increase of speculation in worse forms than at

present. Cures for the present evils connected with

the fluctuations of values. Difficulties of applying

remedies, especially in the case of fraudulent finan-

cing and “company floating”

216-228

II. The recent increase in the formation of companies

and syndicates. Significance of the syndicates as

a possible stage in the direction of Socialism. Why

a general syndicate occupation of the field of business

and industry is unlikely for a long time yet

228-234

CHAPTER VIII.

IN THE SOCIALIST STATE (concluded).

UNPRODUCTIVE LABOURERS. THE CHURCH AND THE

GOVERNMENT.

I. How far certain kinds of unproductive labourers of the
less skilled sort might be enrolled under service of
the State. Inconvenience of suppressing domestic
servants and substituting for them public function-
aries as proposed by the Socialists. The Professions

SECT.

PAGE

under Socialism. Individuals with special skill in

much request must be permitted to reap the natural

rewards of it. Examples: the physician, the advocate,

the artist, &c. The teaching service, like the civil

and the military service, might fit into Socialism

without great change

. 235-241

II. Possible position of Men of Letters and of

Philosophers under Socialism. Importance of the

functions of the latter in modern society. The

Philosophers and Socialism. The Church and

Socialism

242-249

III. The Government under Socialism. Reticence of

Socialist authorities on this topic. Mode in which

superiors are to be selected. A complete political

revolution implied, as well as a social and economi-

cal one.
How far a violent revolution would be likely

to further the Socialist programme

250-257

IV. Final pronouncement on Collectivism. True course

for the working class, their friends, and all the dis-

contented under the present order

257-265

CHAPTER IX.

PRACTICABLE STATE SOCIALISM:-(A) LEGISLATIVE.

I. The case of the Socialists, so far as real, and what

makes its strength. The supporters of Socialism 267-272

II. Co-operative production. Where it might succeed.

How far likely to be a solution of the Capital and

Labour question. Difficulties in the way of success.

State assistance under certain conditions to associa-

tions of labourers might be tried as an experiment.

Best modes of composing the difference between

Capital and Labour at the present time

. 272-282

III. The Land Question. In England the creation of
small holdings should be aimed at, also allotments
to agricultural and other labourers; also the buying
out by the municipalities of the speculative holders
of land in or near the large towns. How far
a certain kind of limited but healthy Socialism

SECT.

might be promoted by the local governing authori-
ties

PAGE

283-288

IV. How to provide greater equality of chances to ability

in the lower social grades. Importance of this kind

of Socialism, which is also the most practicable.

Reasons in favour of it

288-297

V. The taxation of inheritances. Justice of the public

claim to part of inheritances. How most appro-

priately to apply the funds raised. Mill's more

extreme proposal. Probable results of it. The in-

crease should be gradual, and should not go much

ahead of the general sentiment or set of opinion.

Postulates moral improvement in individuals to make

it effective

297-308

VI. The unemployed labourers. Importance of knowing

how to deal with the question. Explanation of the

increased number of the unemployed in recent times.

Possible remedies for unemployed labour

. 308-320

VII. The Right to Labour. Consequences of conceding

the right according to Mill. His conclusions not

accepted by certain social thinkers. Reasons why the

right to labour cannot be guaranteed by the State

under the existing organization of industry .

321-326

CHAPTER X.

ON SOME PROPOSED REMEDIES FOR LOW WAGES AND

UNEMPLOYED LABOUR.

I. A minimum wage to be fixed, (1) by authority; (2) by

labourers themselves through Trades Unions. Con-

sequences of the first proposal. How far the second

course would be beneficial to the labourers. On

what the wages of common labour depend .

327-332

II. The classical economists' doctrine of an "average
rate of wages." Objections to Mill's method of
determining the average rate by the Wage Fund
theory. His remedies for low wages as based
on that theory. Why wages have not fallen but
risen, though population has greatly increased

SECT.

since Mill wrote. With general free-trade or free
foreign markets our population might indefinitely
increase without wages being reduced. Cairnes'
amended statement of the Wages Fund theory.
His conclusions from it as respects the future of
the labouring classes. Inconvenient consequences
of his reasoning respecting an average rate of
wages." Criticism of his reasoning. His mistake
to the comparative shares of the landlords,
capitalists, and the labouring classes. His reasons
why the share of the latter has not increased
in a greater proportion. His conclusions compared
with those of Mr. Giffen, as based on statistics.
Remedies on the economical side for low wages.
On the moral side. What the labourers themselves
can do to raise their condition. What the State
can do. Complete Socialism a doubtful remedy for
the low wages of unskilled labour