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a line was refused on the ground that transportation conditions did not warrant the investment of so much capital as was contemplated by the new line, the old line being capable of handling efficiently all traffic arising in the territory. Because of regulation, the investing public was protected in this case, and also the shipper, because in the end, as in the West Shore incident, rates would have been raised.

Numerous illustrations might be given of the predominance of social over individual interests in the field of economics. The philosophical anarchists claim that were all governments abolished men would work together in voluntary groups and that all would be harmonious. The hard facts of experience, however, are against this theory. Men take a short time view and look for immediate results, while society endeavors to take the long time view and look for ultimate results. Take the pure food laws, for instance. Adulteration brings a fortune to the individual but robs society of healthy citizens, therefore the regulation. Why should a bachelor pay taxes for the education of other people's children? Because he is able, and because in a democratic state all citizens should be educated. Taxes are levied according to the ability to pay, although the idea of benefit may be included. The income tax and the inheritance tax,

not to mention others, are based on the ability to pay, but back of this fundamental principle of taxation is the social viewpoint.

The conclusion of the matter is that the social viewpoint is necessary. Extreme individualism breeds anarchy which needs the corrective influence of social interest. The non-social individual is a menace to society.

But shall we throw overboard individual enterprise, individual thrift, individual foresight, individual responsibility, and individual initiative? The answer to this is, No! Shall we, on the other hand, allow individualism to overthrow the good of collective action? The answer to this question is also No. Shall we make collectivism and thus socialism the only rule? Again the answer is No.

What is needed is the good of both individualism and collectivism without the evils of either. The social viewpoint should retain the serviceable features of individualism. Likewise coöperation, social control, collective wisdom, social foresight, and wise social direction of human activity are productive of good if not carried to extremes. The principle of balance is what is needed. The corrective of individual greed is social service. The government that governs the least should be replaced by the government that governs the best.

The social viewpoint is a necessary corrective to

extreme individualism. Social welfare and individual welfare are in the long run one and inseparable.

[blocks in formation]

Production, 5

Program of Owen, 41
Protective tariff, 162
Religious element, 12
Ricardo, 4

Sales association, 136
Schools, 39

Scientific method, 21
Self-interest, 18
Service, 20

Shingle Weavers, 125
Smith, Adam, 4, 18
Socialism, 45

Social interests, 160, 166
Socialistic ideal, 13
Social philosophy, 145
Social revolution, 120

Social viewpoint, 144

Special assessments, 101

State enterprises, 80

State, origin of, 148, func-
tion of, 150

Status, 156

Steel strike, 109, 122
Steel Strike Report, 109
Surplus value, 60
Tariff, 161

Tax on the Increase in Land
Values, 95

Taxation, 105, 106
Townley, A. C. 73
Toynbee, 28

Trade unionism, 157
Trade unions, 28, 29, 46
Trade union views, 130
Union label shingles, 134
Value, 13, 49, 61
Wages, 27
Wallace, 24
War losses, 93

Wealth, sources of, 16
Webster, quoted, 5
Who Pays for War, 89
Withers, H., 90

Wordsworth, quoted, 7

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THE UNITED STATES OF AMERICA

BY

MOREHOUSE PUBLISHING CO.

MILWAUKEE, WIS.

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