employers and capitalists the information which they need for the
defense of their interests. The combination between them is automatic
and instinctive. It is not formal and regulated by rule. It is all the
stronger on that account, because intelligent men, holding the same
general maxims of policy, and obtaining the same information, pursue
similar lines of action, while retaining all the ease, freedom, and
elasticity of personal independence.

At present employés have not the leisure necessary for the higher modes
of communication. Capital is also necessary to establish the ties of
common action under the higher forms. Moreover, there is, no doubt, an
incidental disadvantage connected with the release which the employé
gets under the wages system from all responsibility for the conduct of
the business. That is, that employés do not learn to watch or study the
course of industry, and do not plan for their own advantage, as other
classes do. There is an especial field for combined action in the case
of employés. Employers are generally separated by jealousy and pride in
regard to all but the most universal class interests. Employés have a
much closer interest in each other's wisdom. Competition of capitalists
for profits redounds to the benefit of laborers. Competition of
laborers for subsistence redounds to the benefit of capitalists. It is
utterly futile to plan and scheme so that either party can make a
"corner" on the other. If employers withdraw capital from employment in
an attempt to lower wages, they lose profits. If employés withdraw from
competition in order to raise wages, they starve to death. Capital and
labor are the two things which least admit of monopoly. Employers can,
however, if they have foresight of the movements of industry and
commerce, and if they make skillful use of credit, win exceptional
profits for a limited period. One great means of exceptional profit
lies in the very fact that the employés have not exercised the same