"But did you not just tell me that economic initiative and business
opportunity in your day were practically monopolized by the capitalists
themselves?"

"Certainly. It was admitted that there was no opening for any but
capitalists in business, and it was rapidly becoming so that only the
greatest of the capitalists themselves had any power of initiative."

"And yet you say that the reason given for abandoning industry to
capitalist government was the promotion of industrial freedom and
individual initiative among the people at large."

"Certainly. The people were taught that they would individually enjoy
greater liberty and freedom of action in industrial matters under the
dominion of the capitalists than if they collectively conducted the
industrial system for their own benefit; that the capitalists would,
moreover, look out for their welfare more wisely and kindly than they
could possibly do it themselves, so that they would be able to provide
for themselves more bountifully out of such portion of their product as
the capitalists might be disposed to give them than they possibly could
do if they became their own employers and divided the whole product among
themselves."

"But that was mere mockery; it was adding insult to injury."

"It sounds so, doesn't it? But I assure you it was considered the
soundest sort of political economy in my time. Those who questioned it
were set down as dangerous visionaries."