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Updated: May 24, 2025
J. G. Phelps Stokes, formerly a member of the National Executive Committee, declared publicly, after the Milwaukee victory of 1910, that the Milwaukee Socialists "had compromised with capitalism" by their campaign utterances, and in certain instances had acted as "mere reformers, not as Socialists at all."
Like the economists of the Manchester school, Marx failed to recognize the interplay of human instincts in the world of industry. All the virtues were embodied in the beloved proletariat; all the villainies in the capitalists. The greatest asset of the capitalism of that age was, as a matter of fact, the uncontrolled breeding among the laboring classes.
And they were part of an army of men who were banded together in every civilized nation. Wherever Capitalism had come, there men were uniting against it; and every day their power grew there was nothing that could stop them. These men had seen the vision of the new time that was coming, and there burned in them a fire of conviction.
I remember one socialist who habitually opened a very telling address he was in the habit of giving upon the street corners, by holding me up as an awful example to his fellow socialists, as one of their number "who had been caught in the toils of capitalism."
Nothing but just this discipline of failure, disappointment, and defeat on the part of the earlier reformers could have educated the people to the necessity of attacking the system of private capitalism in its existence instead of merely in its particular manifestations.
It was a weakness incurable so long as the capital of the country, its economic interests, remained in private hands, and one that could be remedied only by the radical abolition of private capitalism and the unification of the nation's capital under collective control.
But Capitalism seems to me to have collapsed; to be not only a discredited ethic but a bankrupt business. Whether we shall return to pagan slavery, or to small property, or by guilds or otherwise get to work in a new way, is not the question here.
He's about the oldest in our class, I guess a lot older than us, anyhow. He's kind of an anarchist or something; can't talk more'n five minutes any time without gettin off some bug stuff about 'capitalism. He said the course in political economy was all 'capitalism' and the prof was bought by Wall Street." "Poor old Prof. Craig!" Colburn laughed. "He gets fifteen hundred a year."
German Social Democracy may be referred for its source to the teachings of Louis Blanc, who formed in 1840 a workmen's society in Paris. Blanc held, as the Social Democrats hold, that capitalism was the cause of all social evil, and that the workman was powerless against it.
There is no doubt that Mr. Simons here indorses the most promising line of agrarian reform under capitalism. But there is no reason why capitalist collectivism may not take up this policy when it reaches a somewhat more advanced stage. The tremendous benefits the cities will secure by the gradual appropriation of the unearned increment will almost inevitably suggest it to the country also.
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