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 were appointed by His Majesty's Minister of Labour."

Equally emphatic is a book called National Guilds: an Enquiry into the Wage System and the Way Out, which is described on its cover as by A. R. Orage, and on its title-page as by S. G. Hobson, edited by A. R. Orage. On page 21, the Hobson-Orage partnership observes that "there is this in common between Municipal and State Socialism: both are equally committed to the exploitation of labour by means of the wage system, to the aggrandisement of the municipal investor. State Socialism is State capitalism, with the private capitalist better protected than when he was dependent upon voluntary effort."

Later on, on page 153, they say that they "have shown that the continuance of the wage system is inevitable if the State Socialist prevails, since he can only acquire productive and distributive undertakings by payment of a compensation that would bear as heavily upon labour as the present burden of rent, interest, and profits." And the champion of Guild Socialism who has published the latest book on the subject, Mr. G. R. Stirling Taylor, deals roughly with the question of bureaucratic efficiency.