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 But that is beside the point. The successful working of a modern industrial community is best secured where these traits concur, and it is attained in the degree in which the human material is characterised by their possession. Their presence in some measure is required in order to a tolerable adjustment to the circumstances of the modern industrial situation. The complex, comprehensive, essentially peaceable, and highly organised mechanism of the modern industrial community works to the best advantage when these traits, or most of them, are present in the highest practicable degree. These traits are present in a markedly less degree in the man of the predatory type than is useful for the purposes of the modern collective life.

On the other hand, the immediate interest of the individual under the competitive régime is best served by shrewd trading and unscrupulous management. The characteristics named above as serving the interests of the community are disserviceable to the individual, rather than otherwise. The presence of these aptitudes in his make-up diverts his energies to other ends than those of pecuniary gain; and also in his pursuit of gain they lead him to seek gain by the indirect and ineffectual channels of industry, rather than by a free and unfaltering career of sharp practice. The industrial aptitudes are pretty consistently a hindrance to the individual. Under the régime of emulation the members of a modern industrial community are rivals, each of whom will best attain his individual and immediate advantage if, through an exceptional exemption from