You of the destroyed middle class, along with labor--there will be nothing but labor then; so you, and all the rest of labor, will participate in the equitable distribution of the products of the wonderful machines.

And we, all of us, will make new and more wonderful machines.

And there won't be any unconsumed surplus, because there won't be any profits." "But suppose the trusts win in this battle over the ownership of the machines and the world ?" Mr.Kowalt asked.
"Then," Ernest answered, "you, and labor, and all of us, will be crushed under the iron heel of a despotism as relentless and terrible as any despotism that has blackened the pages of the history of man.

That will be a good name for that despotism, the Iron Heel."* * The earliest known use of that name to designate the Oligarchy.
There was a long pause, and every man at the table meditated in ways unwonted and profound.
"But this socialism of yours is a dream," Mr.Calvin said; and repeated, "a dream." "I'll show you something that isn't a dream, then," Ernest answered.
"And that something I shall call the Oligarchy.

You call it the Plutocracy.