THE END OF LAISSEZ-FAIRE

that one cannot do without the money-motive,and that, apart from certain admitted abuses,it does its job well. In the result the averageman averts his attention from the problem,and has no clear idea what he really thinks andfeels about the whole confounded matter.

Confusion of thought and feeling leads toconfusion of speech. Many people, who arereally objecting to Capitalism as a way oflife, argue as though they were objecting to iton the ground of its inefficiency in attainingits own objects. Contrariwise, devotees ofCapitalism are often unduly conservative, andreject reforms in its technique, which mightreally strengthen and preserve it, for fear thatthey may prove to be first steps away fromCapitalism itself. Nevertheless a time maybe coming when we shall get clearer than atpresent as to when we are talking aboutCapitalism as an efficient or inefficient tech-nique, and when we are talking about it asdesirable or objectionable in itself. For mypart, I think that Capitalism , wisely managed,can probably be made more efficient for

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