provide a good substitute for that institution.

The problem before us is a double one: First, can we remedy the
defects of the capitalistic system? And, if so, by what method shall
we proceed? Second, if the defects of capitalism cannot be remedied,
what industrial system shall be substituted for capitalism? It is not
a question of whether or not capitalism is faulty, but of whether it
is more faulty than the system that would be substituted for it. The
virtues of capitalism, most authorities believe, clearly outweigh its
defects, and though some other system may eventually prove to have as
great virtues with fewer defects, the burden of proof is upon those
who advocate other systems than capitalism. Until the advantage is
clearly shown to be on the side of a rival system, it will be wise to
retain capitalism.


QUESTIONS ON THE TEXT

1. Is it correct to speak of a "capitalistic system"?

2. What is the chief economic function of government?

3. Name the four methods of getting a living. Which will be encouraged
by a good government?

4. To what extent is the attitude of a good government toward industry
a negative one?

5. What is the relation of government to the institution of private
property?