Online Library of Liberty: Economics, vol. 2: Modern Economic Problems

group, but in wealth, social position, and political influence are very powerful. They favor the existing order, excepting in those features designed to limit wealth and the use of monopolistic power. The stand-pat conservatives are a much larger group of moderately well-to-do, including most of the residents on “Main Street,” who like things just as they are.

§ 13. Progressive versus radical. The conception of the present economic system outlined above may likewise be called conservative, but it must be modified by the adjective progressive, or liberal, as contrasted with reactionary. In this view the central features of the present economic system must continue much as they are, and progress must be won by gradual correction of evils. These are recognized to be many, and to call constantly for remedial legislation and remedial effort in our rapidly shifting industrial conditions. The progressive-conservatives believe that the evils are not due solely or mainly to the “present economic system”; they believe that a workable economic system cannot be devised by doctrinaire philosophers as a thing apart from human nature, a thing to be declared absolutely good or bad without reference to the kind of people who compose the community. The present economic system can be made better only slowly and as the individuals who compose the community keep pace with growth in virtue and wisdom. Therefore, the progressiveconservative sees that much of the task of social progress is individual and family education, moralizing the oncoming generations with the old-fashioned virtues of thrift, honesty, loyalty, and duty. All such suggestions are impatiently and angrily rejected by the more radical social reformers, who (again with varying emphasis and with many gradations of opinion) advocate abandoning the present economic system and substituting for competition with private property a universal principle of authority.

References.

Hinds, W. A., American communities, 2d ed. Chicago. Kerr. 1908. (Describes many experiments, all failures; by a sympathizer with socialism.)

Lockwood, G. B., The New Harmony movement. 2d ed. N. Y. Appleton. 1907.

Nordhoff, C., Communistic societies of the U. S. N. Y. Harper. 1875.