considerable amount of wealth at the cost of moderate effort. This has
become possible only during the last few generations; and herein is to be
sought the reason why the great economists of the seventeenth and
eighteenth centuries were not able to rise to an unprejudiced critical
examination of the true nature and the necessary consequences of the
exploiting system of industry. _They_ were compelled to regard exploitage
as a cruel but eternally unavoidable condition of the progress of
civilisation; for when they lived it was and it always had been a necessity
of civilisation, and they could not justly be expected to anticipate such a
fundamental revolution in the conditions of human existence as must
necessarily precede the passage from exploitage to economic equity.

So long as the exploitage of man by man was considered a necessary and
eternal institution, there existed no motive to prompt men to subject it to
a closer critical investigation; and in the absence of such an
investigation its influence upon the nature and extent of demand could not
be discovered. The old economists were therefore _compelled_ to believe it
chimerical to think of demand as falling short of production; for they
said, quite correctly, that man produces only to consume. Here, with them,
the question of demand was done with, and every possibility of the
discovery of the true connection cut off. Their successors, on the other
hand, who have all been witnesses of the undreamt-of increase of the
productiveness of labour, have hitherto been prevented, by their otherwise
well-justified respect for the authority of the founders of our science,
from adequately estimating the economic importance of this revolution in
the conditions of labour. The classical system of economics is based upon a
conception of the world which takes in all the affairs of life, is
self-consistent, and is supported by all the past teachings of the great
forms of civilisation; and if we would estimate the enormous force with
which this doctrine holds us bound, we must remember that even those who