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 economic life favours the survival and accentuation of the predatory temperament and habits of thought. Under the modern, peaceable system, it is of course the peaceable range of predatory habits and aptitudes that is chiefly fostered by a life of acquisition. That is to say, the pecuniary employments give proficiency in the general line of practices comprised under fraud, rather than in those that belong under the more archaic method of forcible seizure.

These pecuniary employments, tending to conserve the predatory temperament, are the employments which have to do with ownership―the immediate function of the leisure class proper—and the subsidiary functions concerned with acquisition and accumulation. These cover that class of persons and that range of duties in the economic process which have to do with the ownership of enterprises engaged in competitive industry; especially those fundamental lines of economic management which are classed as financiering operations. To these may be added the greater part of mercantile occupations. In their best and clearest development these duties make up the economic office of the "captain of industry." The captain of industry is an astute man rather than an ingenious one, and his captaincy is a pecuniary rather than an industrial captaincy. Such administration of industry as he exercises is commonly of a permissive kind. The mechanically effective details of production and of industrial organisation are delegated to subordinates of a less "practical" turn of mind,—men who are possessed of a gift for workmanship rather than administrative ability. So far as regards