§ 6. Summary of Effects of Machinery on the Condition of the Poor.--To
sum up with any degree of precision the net advantages and disadvantages
of the growth of machinery upon the working classes is impossible. If we
look not merely at the growth of money incomes, but at the character of
those products which have been most cheapened by the introduction of
machinery, we shall incline to the opinion that the net gain in wealth-
producing power due to machinery has not been equally shared by all
classes in the community.[17]

The capitalist classes, so far as they can be properly severed from the
rest of the community, have gained most, as was inevitable in a change
which increased the part played by capital in production. A short-timed
monopoly of the abnormal profits of each new invention, and an enormous
expansion of the field of investment for capital must be set against the
gradual fall in the interest paid for the use of each piece of capital.
But as the advantage of each new invention has by the competition of
machinery-owners been passed on to the consumer, all other classes of
the community have gained in proportion to their consumption of
machinery-produced commodities. As machinery plays a smaller part in the
production of necessaries of life than in the production of comforts and
luxuries, it will be evident that each class gain as consumers in
proportion to its income. The poorest classes, whose consumption of
machine-productions is smallest, gain least. It cannot, however, be
said, that there is any class of regular workers who, as consumers, have
been injured by machinery. All have gained. The skilled workmen, the
aristocracy of labour, have, as has been shown, gained very
considerably. Even the poor classes of regular unskilled workmen have
raised their standard of comfort.

It is in its bearing on the industrial condition of the very poor, and