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Updated: June 24, 2025
Monopoly capitalism has made no real effort to organize a functioning world economy. On the contrary, it has established, maintained and consolidated centers of economic interests and activities at the national level.
"Just how," said I, "did the abolition of private capitalism and the substitution of a nationalized economic system operate to stop the growth of the cities?" "By abolishing the need of markets for the exchange of labor and commodities," replied the doctor.
On the contrary, it is simply the echo of E. H. Gary, that is to say, John Pierpont Morgan, president of all the trusts. "Mr. Roosevelt now proposes that Bismarck attempted in Germany forty years ago to thwart the Socialist movement, and that is State Socialism, so called, which is in fact the most despotic and degrading form of capitalism.
The middle class consisted mainly of traders and bankers, whose aim was the introduction of Western capitalism in association with foreign powers. There were also young students who were often the sons of old gentry families and had been sent abroad for study with grants given them by their friends and relatives in the government; or sons of businessmen sent away by their fathers.
And so both deny that "State Socialism," which they recognize as an intervening stage between the capitalism of to-day and Socialism, is destined to give better material conditions, if less liberty, than the present society.
Liberalism arose and began to thrive in the period of small industry; Socialism grew with the rise of industrialism and of world-wide capitalism. The dissension therefore between these two points of view, or the antithesis, if we wish so to call it, is limited to the economic field.
This phase of the counter-revolutionary drive to reestablish monopoly capitalism and imperialism in the Far East thus far has met with decisive and humiliating defeat. This defeat marks the end of the capitalist occupation of Far Asia.
There were some Socialists who believed in politics, and were prepared to devote their lives to the slow and tedious job of building up a party. There were others who were impatient, looking for a short cut, a general strike or a mass insurrection of the workers which would put an end to the slavery of capitalism.
The platform of the American Party just quoted classes such reforms as government relief for the unemployed, government loans for public work, and collective ownership of the railways and trusts, as measures it may be able "to force from capitalism," as "a preparation of the workers to seize the whole power of government."
Anti-Socialists may share the Socialist ideal and even favor all the reforms that the capitalists can permit to be put into practice without resigning their power and allowing the overthrow of capitalism.
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