the spring or the fall, a pleasure boat in
summer, and anything which, by the aid of capital, is presented to a
user when he needs it, illustrate this quality. We may call it time
utility, and creating it is a function of capital. We shall see how
capital assists in the production of the other utilities; but the
creation of time utility it accomplishes without assistance.

_Executive and Directive Labor._--Labor involves the whole man,
physical, mental, and moral. No labor is so simple that it is not
better done when intelligence is used in the performance of it. The
savage's hut, his canoe, his bows and arrows, etc., vary in their
efficiency and value, not merely according to the time and muscular
effort spent in making them, but also according to the efficiency of
the thought by which those efforts are guided. There is here the germ
of the difference between the executive labor of the modern employee
and the directive labor of the manager. Yet no manager directs in more
than a general way the muscular movements of his subordinates, and
their own intelligence must still be trusted to do much of the
directing. The mental labor that guides and controls the physical is
universal in industry, but becomes more and more a distinct and
dominant factor as civilization increases.

_Fidelity as affecting the Productivity of Labor._--The fact that all
workmen are largely their own directors brings fidelity into the
foreground as an element in determining men's earning power; but this
element counts for much more in the civilized state than it does in
the primitive one, for here fidelity in directive laborers of the
highest type is most important and difficult to secure. One of the
greatest problems of modern business is how to make directors and
executive officers of corporations faithful to the stockholders who
employ them. In the primitive state these problems do not arise. When
a man is working for himself, mere interest largely takes the place of
fidelity. If to-day any one secures a good house of his own to live
in, it is because he employs contractors, overseers, and artisans all
of whom are, in the main, faithful to his interests and see that the
work of building is properly done. A savage looks after his own
interests as his personal work proceeds; and yet even in his case
there is the germ of that enthronement of character in the supreme
place which is the prominent feature of highly organized industry. In
building a h