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"I beg your pardon," replied Dr. Leete, "but you scarcely do as
yet. The economies I have mentioned thus far, in the aggregate,
considering the labor they would save directly and indirectly
through saving of material, might possibly be equivalent to the
addition to your annual production of wealth of one half its
former total. These items are, however, scarcely worth mentioning
in comparison with other prodigious wastes, now saved,
which resulted inevitably from leaving the industries of the
nation to private enterprise. However great the economies your
contemporaries might have devised in the consumption of
products, and however marvelous the progress of mechanical
invention, they could never have raised themselves out of the
slough of poverty so long as they held to that system.
"No mode more wasteful for utilizing human energy could be
devised, and for the credit of the human intellect it should be
remembered that the system never was devised, but was merely a
survival from the rude ages when the lack of social organization
made any sort of cooperation impossible."
"I will readily admit," I said, "that our industrial system was
ethically very bad, but as a mere wealth-making machine, apart
from moral aspects, it seemed to us admirable."
"As I said," responded the doctor, "the subject is too large to
discuss at length now, but if you are really interested to know
the main criticisms which we moderns make on your industrial
system as compared with our own, I can touch briefly on some of
them.
"The wastes which resulted from leaving the conduct of
industry to irresponsible individuals, wholly without mutual
understanding or concert, were mainly four: first, the waste by
mistaken undertakings; second, the waste from the competition
and mutual hostility of those engaged in industry; third, the
waste by periodical gluts and crises, with the consequent
interruptions of industry; fourth, the waste from idle capital and
labor, at all times. Any one of these four great leaks, were all the
others stopped, would suffice to make the difference between
wealth and poverty on the part of a nation.
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