[An Inquiry Into The Nature Of Peace And The Terms Of Its Perpetuation by Thorstein Veblen]@TWC D-Link bookAn Inquiry Into The Nature Of Peace And The Terms Of Its Perpetuation CHAPTER VII 37/68
Popular intelligence, as it is called,--more properly popular education,--may be expected to suffer a further advance; necessarily so, since it is a necessary condition of any effectual advance in the industrial arts,--every appreciable technological advance presumes, as a requisite to its working-out in industry, an augmented state of information and of logical facility in the workmen under whose hands it is to take effect. Of the prescriptive rights carried over into the new era, under the received law and order, the rights of ownership alone may be expected to have any material significance for the routine of workday life; the other personal rights that once seemed urgent will for everyday purposes have passed into a state of half-forgotten matter-of-course.
As now, but in an accentuated degree, the rights of ownership will, in effect, coincide and coalesce with the rights of investment and business management.
The market--that is to say the rule of the price-system in all matters of production and livelihood--may be expected to gain in volume and inclusiveness; so that virtually all matters of industry and livelihood will turn on questions of market price, even beyond the degree in which that proposition holds today.
The progressive extension and consolidation of investments, corporate solidarity, and business management may be expected to go forward on the accustomed lines, as illustrated by the course of things during the past few decades.
Market conditions should accordingly, in a progressively increased degree, fall under the legitimate discretionary control of businessmen, or syndicates of businessmen, who have the disposal of large blocks of invested wealth,--"big business," as it is called, should reasonably be expected to grow bigger and to exercise an increasingly more unhampered control of market conditions, including the money market and the labor market. With such improvements in the industrial arts as may fairly be expected to come forward, and with the possible enhancement of industrial efficiency which should follow from a larger scale of organisation, a wider reach of transport and communication, and an increased population,--with these increasing advantages on the side of productive industry, the per-capita product as well as the total product should be increased in a notable degree, and the conditions of life should possibly become notably easier and more attractive, or at least more conducive to efficiency and personal comfort, for all concerned.
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