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, though it might give material security and more justice than we have at present, would probably fail to liberate creative impulses or produce a progressive society.

Our present system fails in all four purposes. It is chiefly defended on the ground that it achieves the first of the four purposes, namely, the greatest possible production of material goods, but it only does this in a very short-sighted way, by methods which are wasteful in the long run both of human material and of natural resources.

Capitalistic enterprise involves a ruthless belief in the importance of increasing material production to the utmost possible extent now and in the immediate future. In obedience to this belief, new portions of the earth's surface are continually brought under the sway of industrialism. Vast tracts of Africa