of the seventeenth century by religious
quarrels appears to-day; indeed, it is less rational, since the object
with which it is concerned is less important. And it is a poison which
inflames every wound and turns each trivial scratch into a malignant
ulcer. Society will not solve the particular problems of industry
which afflict it, until that poison is expelled, and it has learned to
see industry itself in the right perspective. If it is to do that, it
must rearrange its scale of values. It must regard economic interests
as one element in life, not as the whole of life. It must persuade its
members to renounce the opportunity of gains which accrue without any
corresponding service, because the struggle for them keeps the whole
community in a fever. It must so organize industry that the
instrumental character of economic activity is emphasized by its
subordination to the social purpose for which it is carried on.

{185}

INDEX

Abolition of private ownership, 147
Absenteeism, 152
Absolute rights, 50-51
Absolutism in industry, 144
Acquisitive societies, 29-32
Administration, 115-116
Allocation of power, 163-164
American Constitution, 18-19, 52
Annuities, 74
Arbitration, compulsory, 101

Bacon, quoted, 58, 181
Bentham, 16, 52, 55
Brain workers, position of the, 161-171
British Coal Industry, reorganization of, 166-171
Building Guilds, 103
Building Trade Report, 106-110
Bureaucracy, 116, 149

Capitalism, and production, 173-176; downward thrust of, 154;
in America, 101; losing control, 141-142, 148
Cecil, Lord Hugh, 23, 58
Cecil, Robert, 59
Cecil, William, 59
Church and State, 10-13
Coal Industry Commission, 71, 126, 137, 143; report of, 166-167
Coal Mines Committees, 152
Combinations, 125, 130
Committee on Trusts, 153
Competition, 27
Compulsory arbitration, 101
Confiscations, 103
Conservatism, the New, 28
Consumer, exploitation of the, 133-134
Co-operative Movement and cost of coal, 125

Dante, quoted, 182-183
Death Duties, 22
Democratic control, 116
Dickenson, Sir Arthur Lowes, 71
Directorate control, 129
Duckham, Sir Arthur, 119
Duke of Wellington, quoted, 123

Economic confusion, cause of, 131-132
Economic discontent, increase of, 5
Economic egotism, 27,
Economic expansion, 9
Efficiency, the condition of, 139-160; through _Esprit de Corps_, 149-150
Employer, waning power of the, 14