The socialist charge, stated and tested
Is the existing order of property and competition as unjust as the socialists say? Mill lets them speak at length before he answers, because working men with votes will take nothing about property for granted.
The socialists Mill quotes charge the existing order with two evils. Reward stands almost in inverse ratio to labour, so that those who receive least work hardest, and the comfortable are those who drew prizes in the lottery of life. Competition is a private war that forces wages down and fills the shops with adulterated goods. Mill grants the first charge much of its force. To the second he replies with facts: wages are not declining, competition lowers the prices workers pay, and most of what is called profit pays for risk and for the labour of management. Fraud he admits, and expects co-operative stores to overcome it.
- socialism
- competition
- poverty
- wages
- commercial ethics
- economic inequality
- commerce
- labor
- working class
- consumer welfare
- consumer protection
- prices
- monopoly
- distribution
- interest
- political economy
Enter a dialogue
- Those who won the prizes in the lottery of life, you write, tell the poor that poverty is a necessary evil. Why should the poor not believe them?
- A tyrant makes a hundred people race for their lives and kills the slowest twenty. Why do you use that picture for competition among the poor?
- Reward today stands almost in inverse ratio to labour, so that those who get least work hardest. How much of the socialist case do you concede with that?
- A hundred grocers open in a town that had twenty, the socialists complain, and customers get adulterated goods. What remedy do you offer short of abolishing trade?
- Capital itself earns some three per cent, by your reckoning, the rest of profit paying for risk and management. What remains of the charge that capital robs labour?