ETHICS AND ECONOMICS. 781 



be likely to be confined to practical ends, and the resulting disad- 

 vantages to society would be very great. It would be impossible 

 to calculate the amount of social benefit that has accrued from 

 the unremunerated intellectual activity of men who have devoted 

 their lives to the pursuit of knowledge for its own sake. Much 

 of this devotion has been made possible by the existence of rich 

 men who have directly or indirectly furnished the means to this 

 end. Many of our schools, colleges, libraries, and art-galleries 

 have been founded or more or less supported by contributions 

 from the rich, and a deeper and richer economic return has been 

 made possible. 



But the fundamental objection to socialism is, that the eco- 

 nomical disadvantages which its adoption would surely entail 

 would not be balanced by ethical benefits that would repay the 

 loss. The evils of which socialists chiefly complain are due to the 

 inherent defects of human nature as it is. While some of these 

 defects may be increased and intensified by the system of private 

 property and free competition that now obtains, it is altogether 

 unlikely that a change in the system would of itself greatly 

 modify human nature. That requires long time and a co-opera- 

 tion of all the social factors. Moreover, the growth of the sense 

 of social obligation gives promise that these very defects may be 

 lessened and eventually overcome, by a more thorough recogni- 

 tion of our social duties and responsibilities, and the cultivation 

 of a public opinion that will insist upon their performance. The 

 main " justification of the existing industrial system is that it se- 

 cures more responsible and far-sighted management of capital 

 than could be obtained in any other way " ; but when we " attempt 

 to enjoy the rights of property without corresponding responsi- 

 bilities," we give our opponents their most powerful weapon.* 



As a first requisite to the establishment of a correct public 

 opinion, it is needful that we should teach more broadly the truth 

 that men have no absolute right to do as they please with their 

 own, and that the obligations which contract imposes are not the 

 only ones to be taken into consideration. Not only must we, in 

 accordance with the law of equal freedom, forbear to interfere 

 with the equal rights of others, but we must also remember that 

 our duty calls upon us to use our rights in such a way as not to 

 demoralize, but on the contrary to conserve, the community in 

 which we live. The test of this is the principle with which we 

 set out — the well-being of society. We may not always be able 

 to decide positively as to what is best in every case for the social 

 welfare, but it is possible for us to do so in many instances ; and 

 wherever the absolute exercise of any right, which the principles 

 of political economy otherwise sanction, seems likely to be detri- 



" "The Nation" for December 1, 1887, p. 431. 



