,ECONOMIC ,EQUITIES3 ,A ,COMP5D ( ! ,NATURAL ,LAWS ( ,9DU/RIAL ,PRODUCTION 

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,PEOPLE 3 

,AU?OR 3 ,JO%UA ,K4 ,+ALLS 

,TAGS 3 CONTROL ( ! L&1 [N]%IP ( ! L&1 DOM9ION ( ! L&1 SY/EM ( 9DIVIDUAL PROP]TY1 !ORY ( SOCIAL ORGANIZATION1 MONOPOLY ( ! L&1 REC5T S*OOL ( ECONOMI/S1 LAW ( ! M>KET1 ABS5CE ( CLASS LAW1 MONEY RATE ( WAGES4 

,TEXT 3 

  

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#a#bMO1 #c#bPP41 L>GE TYPE1 GOOD PAP]1 SILK CLO?1 @s#a4  

,C,O,N,T,5,TS4-,ECONOMIC ,S*OOLS--,A ,BRIEF ,REVIEW ( !IR ,QRIG9 & ,GR[?2 ,RISE & ,GR[? ( ,CAPITALISM2 ,UNE>N$ ,9CREASE--,PR(IT2 ,9T]E/1 ,R5T2 ,CONS]VATION ( ,WEAL?2 ,TOOLS & ,IMPROV$ ,MA*9]Y2 ,! ,NATURE ( ,WAGES2 ,PRI3 ,YATE & ,SOCIAL ,WEAL? 2 ,L& ,[N]%IP2 ,PRIVATE ,PROP]TY 9 ,L&2 ,CAPITAL & ! ,PRODUCTIVE ,FACTORS2 ,P>TN]%IP & ,COOP]ATION2 ,LAW ( ,CONTRACTS2 ,MONEY & ,CR$IT2 ,( ,VALUE1 OR ,ECONOMIC ,RATIOS2 ,TAXATION AS A ,REM$Y2 ,RE=MS1 NOT4 ,REM$IES2 ,SUGGE/IONS TO ,LEGISLATORS2 ,SUMM>Y ( ,DEF9ITIONS--,ECONOMIC & ,ISONOMIC4 

,EX,T,R,ACT4--,FROM CONQUE/S ) BLUDGEONS1 SWORDS1 & SPE>S1 AS 9 ! E>LI] AGES1 CIVILISM HAS 9AUGURAT$ A W> ( (F & FRAUD1 :OSE WEAPONS >E TE*NICAL1 T]MS1 %REWD DEVICES1 CLASS LEGISLATION1 & =MS ( LAW ONIANS NO RI<TS AS SUPREME BUT ?OSE ( PROP]TY & ! LAW ( ! ,9>KET4 

,EXT,R,ACT4--,TO GET SOME?+ = NO?+ BECOMES A HABIT & A CULTUS1 :I*1 AS1 A1 MAN GR[S 9 YE>S1 HE TRIES TO R$UCE TO AN >T4 ,IF1 BY %REWD DEVICE OR SUBTLE PRET5SE1 HE CAN _>_>_> ESCAPE WORK1 & SADDLE ! EXP5SE ( LIFE UPON O!RS1 HE LE>NS ?AT1 UND] ! TEA*+S ( \R EXACT ECONOMY & RE=M$ !OLOGY1 HE WILL BE 5TIL$ TO SOCIAL DI/9CTION & RESPECT2 & TO HAVE HIS _<3_>2 DEF5D$ BY LE>N$ PR(ESSOR & TITL$ DIGNIT>Y1 BO? SECUL> & RELIGI\S4 

,%[S ?R\<\T A COMPLETE MA/]Y ( ! SUBJECT4--,SOCIOLOGI/4 

,V]Y RADICAL 9 HIS VIEWS4 ,WRITT5 ) =CE & EVID5T ?\<T4--,KANSAS ,CITY ,TIMES4 

,A WORK ( 9E/IMABLE VALUE 9 ! NEW FIELD ( ?\<T1 & V]Y CLE>LY ,WRITT54--,WORLD4 

,A CRITICAL REVIEW ( ! V>I\S SY/EMS ( PROP]TY & LABOR 9 VOGUE = MANY AGES4--,A LTRUI/4 ,A /UDY 9 POLITICAL ECONOMY1 & EV9CES WIDE ]UDITION & DEEP ?\<T4-- ,YATES ,CO4 7,N4,Y47 ,*RONICLE4 ,ALL :O CAN %\LD READ IT1 P>TICUL>LY ! V]Y WEAL?Y1 :O >E 9 ! GREATE/ DANG]4--,! ,LIB]AL4 

,! AU?OR EV9CES A M9D FREE FROM BIAS1 CANVAS+ ! SUBJECTS TREAT$ ) VIGOR & CLE>NESS4-,TRU? ,SEEK] 7,N4 ,Y474 

,! RESULT ( PR(\ND 9VE/IGATION1 C>EFUL READ+1 & DEEP ?\<T4 ,EMBODIES ! MO/ ADVANC$ IDEAS ( ECONOMICS4-,WA%+TON ,PO/4 

4 ,EV]Y WORK+MAN1 %\LD READ IT1 & EV]Y ?9K+ MAN MAY OBTA9 5LI<T5M5T & FOOD = ?\<T FROM IT4--,EA/ON ,LABOR ,J\RNAL4 

,TAKES RADICAL GR\ND & CONTA9S MATT] ?AT NOT ONLY ADVANC$ ?9K]S1 BUT ! PUBLIC G5]ALLY1 MAY WELL CONSID] ) C>E4--,DAY ,/> 7,N4 ,Y474 

,! >GUM5T IS DIRECT$ T[>D PO9TS ( 9VE/IGATION :I* (T5 ESCAPE ! ECONOMI/1 BUT :I*1 :5 SETTL$1 S]VE TO MAKE ! RE/ CLE>4--,JOHN ,SW9TON'S ,PAP]4 

,9TELLIG5CE--AN EXACT & SY/EMATIZ$ KN[L$GE ( ! GREAT GOV]N+ LAWS ( LIFE--HE CONSID]S TO BE ! ONLY SOLV5T ( ! GREAT PROBLEMS ( ! AGE4 --,BANN] ( ,LI<T4 

,ONE ( ! BE/ PUBLICATIONS ON ?IS SUBJECT1 ,ABLE1 ?OR\<1 & LOGICAL4 ,MANY ( ! *APT]S >E REM>KABLE = !IR DEP? ( ?\<T1 & >E WOR? ?REE TIMES ! PRICE ( ! BOOK4-,SUNDAY ,GAZETTE]4 

TO 0,! HI<E/ PRAISE1 ANY BOOK ON ?IS SUBJECT C\LD RECEIVE HAS BE5 ACCORD$ ?IS WORK1 ! POLICY ( SIL5CE 9 REG>D TO IT HAV+ BE5 PURSU$ BY NE>LY ALL ( ! CAPITALI/IC PRESS4-GO 

,! ,T,R,U,? ,S,E,E,K,] ,C,O41 #bh ,LAFAYETTE ,PLACE1 ,NEW ,YORK4 

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,! ,P,R,E,S,5,T ,& ,! ,F,U,T,U,R,E ,R,E,P,U,B,L,I,C ,( ,N,O,R,? ,A,M,],I,C,A4 ,B,Y ,A ,C ,A ,P ,J ,T ,A ,L ,L ,S ,T4 #a#bMO1 #d#i#hPP41 L>GE TYPE1 ,PEOPLE'S $41 PAP41 #eC42 F9E PAP]1 SILK CLO?1 @s#a4 ,CO,N,T,5,TS4-,! TITLES ( SOME ( ! *APT]S >E 3 ,PRES5T ,EXT]NAL ,APPE>ANCE ( ,\R O3 ,GOV]NM5T & ,LAWS2 ,F9ANCE2 ,PUBLIC ,IMPROVEM5TS3 ,PRODUCTION & ,DI/RIBUTION2 ,$UCATION2 ,MORALITY & ,RELIGION2 ,M>RIAGE & ,DIVORCE3 ,LIFE 9 ! ,NEW ,REPUBLIC3 ,LIFE 9 ! ,EXI/+ ,REPUBLIC2 ,EXAM9ATION ( ! ,OBJECTIONS TO ,COMMUNISM2 ,ME?ODS ,PROPOS$ = ! ,TRANSITION FROM ! ,SY/EM ( ,9DIVIDUAL ,PROP]TY TO A ,SY/EM ( ,COLLECTIVE ,PROP]TY2 ,DANG]4 ,IT1 ADVOCATES ,ASSOCIATE ,LIFE AS A ,REM$Y =1 ,POV]TY1 ,VISE1 & ,CRIME4 ,IT DEALS ) ! PRES5T CONDITIONS ( SOCIETY 9 ?IS C\NTRY1 PO9T+ \T1 !IR IMP]FECTIONS1 & %[+ H[ IT IS ALMO/ IMPOSSIBLE ?AT ! PEOPLE %\LD BE O!R ?AN POOR & VICI\S1 UND] \R PRES5T SY/EM4 ,! REM$Y1 ! AU?OR ?9KS1 IS 9 COMMUNAL LIFE1 & HE HAS DRAWN A VIVID PICTURE ( ! FUTURE ,REPUBLIC ( ,NOR? ,AM]ICA1 AS IT WILL BE :5 SOCIETY %ALL BE ORGANIZ$ ON ! PR9CIPLES ( ,RATIONAL ,COMMUNISM4 ,! ,FUTURE ,REPUBLIC HAS NO CU/OM-H\SESQR BOND$ W>EH\SES2 NO BANK+ H\SES & BROK]S' (FICES1 ,WALL /REET BE+ LIT]ALLY WIP$ ,QUT2 NO RESPECTABLE (3 H\SES1 SU* AS /OCK & PRODUCE EX*ANGES1 & BO>DS ( TRADE2 NO IFE1 HEAL?1 & FIRE 9SURANCE COMPANIES2 NO C\RT BUILD+S NOR PRISONS1 ) LAWY]S1 JUDGES1 JURIES1 %]IFFS1 CL]KS1 & O!R HANG]S-ON2 NO GROG-S OP3 ,! WORK ( A MA/] M9D4--,W9/$ ,PRESS4 ,MO/ ADMIRABLY ADAPT$ TO ! TIMES4--,/EPH5 ,PE>L ,&REWRS4 ,BE/ BOOK = ! SOLUTION ( ALL ! LABOR PROBLEMS4-,W4 ,E4 ,SCOTT4 ,A WORK ( HI< M]IT1 & WILL /IMULATE ?\<T4--,JOHN ,SUC9TON'S ,PAP]4 ,I ?ANK Y\ A ?\S& TIMES = Y\R BRAVE1 TRUE WORDS4-,LETT] TO ! ,AU?OR4 S _>_>_>_> H[ RATIONAL ,COMMUNISM WILL BR+ AB\T ! IDEAL /ATE4--,KANSAS 0ITY ,TIMES4 - ,EXPOSES ! B>B>ISM ( CIVILIZ$ SOCIETY1 & PO9TS \T ME?ODS ( ESCAPE FROM IT4-- ,PR(4 ,W4 ,S4 ,BELL4 ,/RONGLY WRITT54 ,! AU?OR UND\BT$LY PROVES HIMSELF A COMPLETE MA/] ( HIS !ME4--,SUNDAY ,GAZETTE]4 ,! AU?OR IS NOT A DREAM]1 BUT A MAN ( ACTION1 :O HAS WON SUCCESS 9 ! BATTLE ( LIFE4--,TRU? ,SEEK] 7,N4 ,Y474 ,A PRACTICAL PICTURE WORK$ \T BY A PRACTICAL MAN1 :O IS TO BE CONGRATULAT$ UPON HIS SUCCESS4--,T4 ,B4 ,WAKEMAN4 ,! AU?OR DRAWS SOME />TL+ CONTRA/S BETWE5 ! ACTUAL & ! POSSIBLE /ATE ( SOCIETY4--,WA%+TON ,PO/4 ,! MILL5NIUM IS DESCRIB$ AS BR\<T AB\T BY ! ABOLITION ( ! SY/EM ( 9DIVIDUAL PROP]TY4--,N4 ,Y4 ,H]ALD4 4 ,! WRIT] HAS A KE5 EYE = PRACTICAL EVILS1 & A PRACTICAL WAY = REM$Y+ !M4--,LONDOM 7,5G47 ,TRU? ,SEEK]4 ,! READ] IS NOT ONLY 9T]E/$1 BUT IS HELL BY A FASC9ATION4 ,IT IS WRITT5 

9 ! 9T]E/S ( ! PEOPLE4--,NONCON=MUI/4 ,T\*ES & /IRS ! MORAL S5TIM5TS ( MAN BY PO9T+ TO A HEAV5 ON E>? :I* IS SOME DAY TO DAWN4--,PR(4 ,W4 ,S4 ,BELL4 ,MO/ READABLE BOOK YET ISSU$ ON ! QUE/IONS IT DISCUSSES4 ,WE HAVE READ4 EV]Y WORD ) 9CREAS+ 9T]E/ FROM FIR/ TO LA/4--,NEW ,?\<T4 ,AS A PICTURE ( ! EVILS ( ! COMPETITIVE SY/EM1 IT IS C]TA9LY A SUCCESS4 ,9T]E/+ & USEFUL1 & %\LD MEET ) A L>GE SALE4--,SOCIOLOGI/4 ,! AU?OR IS EVID5TLY A MAN ( SUP]IOR 9TELLECTUAL /R5G?--ONE :O HAS HAD AN ACTIVE EXP]I5CE 9 ! 0/RUGGLE = EXI/5CE40--,9DEP5D5T ,PULPIT4 ,WELL WRITT52 & ! PORTRAYALS ( /RIFE & POV]TY >E DRAWN ) GRAPHIC FIDELITY TO TRU?40 ,HE DOES NOT PROPOSE BLOOD%$1 BUT PEACE2 NOT A SWORD1 BUT PATI5T EF=T1 TO ACCOMPLI% HIS DESIGNS4--,DAY ,/>4 TO ,! O2 PRESS HAVE ALMO/ ,NO4 IGNOR$ ! EXI/5CE ( ?IS BOOK4 ,NO HI<] PRAISE C\LD BE GIV5 ANY WORK ON ?IS SUBJECT4-#d3 

,! ,T,R,U,? ,S,E,E,K,] CO1 #bh ,LAFAYETTE ,PLACE1 ,NEW ,YORK4 

,W,O,R,K,S 4,Y ,! ,L,A,B,O,R ,Q,U,E,/,I,O,N4 

,G5]AL ,9TRODUCTION TO ,SOCIAL ,SCI5CE4 ,P>T ,I4 ,9TRODUCTION TO ,F\RI]'S ,!ORY ( ,SOCIAL ,ORGANIZATION4 ,BY ,ALB]T ,BRISBANE4 ,P,>,T ,I,L ,SOCIAL ,DE/9IES4 ,BY ,*>LES ,F\RI]4 #hVO1 #b#g#bPP41 CLO41 @s#a4 ,!ORY ( ,SOCIAL ,ORGANIZATION4 ,BY ,*>LES ,F\RI]4 ,) AN ,9TRO4 DUCTION BY ,ALB]T ,BRISBANE4 #a#bMO1 #e#d#dPP41 CLO41 @s#a4#e4 ,F\RIE4'S !ORY IS RADICALLY MISUND]/OOD BY ! G5]AL PUBLIC1 & RO TRUE TE/ ( #a HAS OV] YET BE5 MADE 9 PRACTICE4 ,!SE VOLUMES WILL DO MU* T[>D FURNI%+ A KN[L$GE ( ! MAN & HIS TEA*+S--,CRITICAL ,R]I5C4 ,SOCIALISM4 ,A ,REPLY TO ,ROSWELL ,D4 ,HIT*COCK1 ,D4,D4 ,BY AN ,9DEP5D5T ,SOCIALI/4 #a#bMO1 #f#gPP41 ,PAP41 #b#eC - CLO41 #eC4 ,HE BLAMES ,DR4 ,HIT*COCK ?AT ! LATT] LOS A HUGE HUMAN MIS]Y1 BUT NEI!R SEES NOR SEEKS ANY O!R SOLUTION ?AN ?AT ! WEAKE/ MU/ GO TO ! WALL4 ,IT IS AGA9/ ?IS PASSIV5ESS ?AT 0,SOCIALI/0 CRIES \T4 ,IS !RE NO HELP = ! MIS]ABLE8 HE ASKS4 ,! DOCTR9E ?AT GOV]NM5T %\LD M]ELY 0PROTECT0 HE ATTACKS1 & 9SI/S ?AT IT %\LD 0ASSI/10 ALSO1 ,:ILE HE DOES NOT BELIEVE ?AT PROP]TY IS ROBB]Y10 OR :OLLY SUBSCRIBE TO 0! WORLD [ESME ALIV#aNG10 HE AFFIRMS 0 ! WORLD [ES ME A *ANCE TO MAKE A LIV+40--,N4 ,Y4 ,H]ALD1 ,NA?ANIEL ,WAU<AN4 ,PRIE/ & ,MAN4 ,BY ,FR$]IKA ,MACDONALD4 ,/&>D ,FREE?QU<T & ,LABOR ,RE=M ,NOVEL4 #c VOLS4 9 #a41 #a#bMO1 #d#dPP41 CLO1 GOLD SIDE & BACK /AMP1 @s#a4#b#e4 

,MOD]N ,?9K]4 7,NO4 #b47 ,! ,MO/ ,ADVANC$ ,SPECULATIONS 9 ,PH1 LOSOPHY1 ,SCI5CE1 ,SOCIOLOGY1 & ,ITELIGION4 #hVO1 #a#fPP41 PAP41 #g#eC4 ,! ,CONV5TIONAL ,LIES ( ,GUR ,CIVILIZATION4 ,BY ,MAX ,NORDAU4 ,CO4 ,T,5,T,S4-,M5E1 ,TEKEL1 ,UPH>S9 3 ,! ,RELIGI\S1 ,MON>*IG1 & ,>I/OCRATI ,POLITICAL1 ,ECONOMICAL4 ,MATRIMONIAL1 & ,MISCELLANE\S ,I4IES2 ,CLOS+ ,HA MONY4 #a#b4NO1 #c#f#dPP41 PAP41 ,PEOPLE'S $ITION1 #e#c42 CLO42 @s#a4#e ,! ,IMP]IAL ,C\NCIL ( ,VI5NA PROHIBIT$ ! SALE4( ?IS BOOK 9 ,AU/RI 4 & CONFISCAT$ ALL COPIES ( IT !Y C\LD F9D4 ,ECONOMIC ,EQUITIES4 ,A ,COMP5D ( ! ,NATURAL ,LAWS ( ,9DU/RIL ,FOLLON & ,EX*ANGE4 ,BY ,J4 ,K4 ,+ALLS1 AU?OR ( 0,SOCIAL ,WEAL? 0 'AP4 2 #b#eC4 ,NEXT ,/EP TO ,PROGRESS4 ,LIMITATION ( ,WEAL?4 ,BY ,J4 ,H4 ,KEYS]4 #b4 ,SOCIALISM & ,UTILIT>IANISM4 ,BY ,J4 ,S4 ,MILL4 #a#bMO1 #b#h#hPP41 CLO41 @s 4 ,FRUITS ( ,PHILOSOPHY4 ,A ,TREATISE ON ! ,POPULATION ,QUE/ION4 ,I Y ,DR4 ,*AS4 ,I7N[LTON4 ,$IT$ BY ,*>LES ,BRADLAU< & ,ANNIE ,DESANT4 #b3 4 ,POV]TY3 ,ITS ,CAUSE & ,CURE4 ,PO9T+ \T ! MEANS BY :I* TI WORK+ CLASSES MAY RAISE !MSELVES FROM !IR PRES5T /ATE ( L[ WAG & CEASELESS TOIL TO ONE ( COM=T1 DIGNITY4 & 9DEP5D5CE1 & :I IS ALSO O ( 5TIRELY REMOV+1 9 C\RSE ( TIME1 ! O!R PR9CIP SOCIAL EVILS4 ,BY ,M4 ,G4 ,H4 #a444 ,L>GE OR ,SMALL ,FAMILIES 3 ,ON :I* ,SIDE ,LIES ! ,BALANCE ( ,COLL4 =T8 ,BY ,AU/9 ,HOLYOAKE4 #eC4 ,POV]TY3 ,ITS ,EFFECTS ON ! ,POLITICAL ,CONDITION ( ! ,PEOPLE4 ,LY ,*AS4 ,BRADLAU<4 #e#c4 ,:Y ,DO ,M5 ,/>VE 3 ,BY ,*>LES ,BRADLAU<4 #eC4 

,! ,L& ,QUE/ION4 ,L>GE ,E/ATES ,9IMICAL TO ! ,WELF>E ( IT  

 ,PEOPLE4 ,BY ,*AS4 ,BRADLAU<4 #eC4  

,LABOR'S ,PRAY]4 ,BY ,*AS4 ,BRADLAU<4 #eC4   

,LETT]S TO ,Y\NG ,PEOPLE4 ,BY 7,PR9CE7 ,PET] ,KRAPOTK9E4 ,) ,LIFE  

 ( ,AU?OR1 BY ,/EPNIAK4 #aC4   

,! ,TRU? ,SEEK]4 ,LEAD+ ,J\RNAL ( ,FREE?\<T & ,RE=A4  

 ,L>GE/1 ,*EAPE/1 ,BE/4 1 ',I LIO ,5EMY ( ,SUP]/ITION2 ! ,FRI5D ( ,HU4  

 MANITY4 ,E4 O ,MACDONALD1 ,$ITOR4 ,C4 ,P4 ,SOM]BY1 ,BUS9ESS ,MANAG]1  

,WEEKLY1 ,ILLU/RAT$1 ,FOLLO #af PAGES4 ,YE>LY1 @s#c2 ,F\R MON?S1 @s#a4 ,SAMPLE ,COPIES1 ,CIRCUL>S1 & ,CLUB ,T]MS1 ,F,R,E,E4 

,! ,T,R,U,? ,S,E,E,K,] ,C,O1 #bc ,LAFAY ETTE ,PLACE1 ,NEW ,YORK4 

,PREFACE4 

,I MAKE NO APOLOGY = 9TRUD+ ?IS LITTLE /UDY UPON PUBLIC NOTICE4 ,IF ! SUBJECT & TREATM5T 5TITLE IT TO RESPECT1 IT IS WELL2 IF NOT1 NO EXPLANATION OR EXCUSE CAN AVAIL IT4 

,IT SEEMS EVID5T ?AT NO M]E P>TIZAN IS QUALIFI$ TO EXPLA9 G5]AL ECONOMICAL PR9CIPLES4 ,! ADVOCATE ( PROTECTION1 OR ( FREE TRADE1 HAS EA* A DI/9CT PURPOSE & AIM1 :OLLY 9CONSI/5T ) ! SCI5TIFIC SPIRIT4 ,! *AMPION ( A CA/E OR CLASS HAS A PR$ET]M9$ RESULT TO :I* ALL HIS REASON+S >E SUBORD9AT$4 ,POLITICAL ECONOMY HAS ?US F> BE5 LITTLE MORE ?AN A S]IES ( +5I\S ATTEMPTS TO RECONCILE CLASS PR]OGATIVE & >BITR>Y CAPITALI/IC CONTROL ) ! PR9CIPLES ( EX*ANGE4 

,NO PROP] SOLUTION ( ! PROBLEM ( SOCIAL 9DU/RY & WEAL? CAN EV] BE REA*$ :ILE DEF]R+ TO ! TRADITIONS & 9/ITUTIONS ( B>B>\S AGES1 OR TO ! PREJUDICES & SORDID MAXIMS ( ! V]Y RI* & P[]FUL4 ,TO CONSID] ! 9T]E/S ( ONLY ! CLASS ( EMPLOY]S OR BUS9ESS M5 IS QUITE AS 9EFFECTUAL1 & TO V9DICATE ! 9T]E/S ( ! WAGE WORK]S1 AS A CLASS1 LEADS TO NO P]MAN5T IMPROVEM5T 9 HUMAN CONDITIONS4 ,NEI!R ! PRON\NC$ ,COMMUNI/ NOR ! ,/ATE ,SOCIALI/ CAN MAKE AN IMP>TIAL 9VE/IGATION1 S9CE EA* IS COMMITT$ TO AN ULTIMATE CONCLUSION4 ,LEAV+ \T ALL S*EMES = POLITICAL OR LEGISLATIVE REM$IES1 ,I HAVE S\<T TO ASC]TA9 ! TRUE NATURE ( ! RELATION ( E>? & MAN TO SOCIAL 9DU/RY & RECIPROCAL EX*ANGE2 OR AT LEA/ TO CALL ATT5TION TO !SE PROBLEMS AS F> AS !Y >E CAPABLE ( EXACT & SCI5TIFIC TREATM5T4 ,:5 ! TRU? IS COMPREH5D$ WE %ALL BE ABLE TO ASC]TA9 :AT PEOPLE OR CLASS ( PEOPLE1 IF ANY1 >E DESIR\S ( PROMOT+ JU/ICE & HONE/ DEAL+4 

,GL5ORA1 ,N4 ,Y41 #a#h#h#g4 

,CONT5TS4 

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,)\T ANY ELECTION ( HIS [N1 ! *ILD ( 9DU/RY F9DS HIMSELF U%]$ 9TO ?IS WORLD1 SUBJECT TO ! NECESSITY ( SUPPLY+ HIMSELF ) FOOD1 RAIM5T1 & %ELT]4 ,!SE MAY = A TIME BE FURNI%$ BY ! LOVE & C>E ( P>5TS1 FRI5DS1 OR GU>DIANS2 & CONDITIONS ( BIR? OR =TUNE MAY %ORT5 OR GREATLY L5G!N ?IS P]IOD ( DEP5D5CE4 ,9/ANCES :]E9 ! SUPPORT ( ONE'S LIFE IS :OLLY A GRATUITY FROM FAVOR1 ACCID5T ( BIR?1 OR CLASS PR]OGATIVE1 CAN HAVE NO ECONOMICAL IMPORTANCE1 & NE$ NO CONSID]ATION4 

,UND] EV]Y CIRCUM/ANCE1 H[EV]1 ! TRU? REMA9S UNQUE/ION$ ?AT HUMAN LIFE1 ) ALL ITS COM=TS1 MEAG] OR ABUNDANT1 IS SU/A9$ BY HUMAN LABOR1 ( ! P]SON'S [N OR ( ANO!R'S1 & ?AT1 CONSEQU5TLY1 :ATEV] IS NOT FURNI%$ BY HIMSELF HAS TO BE TAK5 FROM ! LABOR PRODUCT ( SOME O!R4 ,AS HE GR[S TO MANHOOD1 MOREOV]1 ! WORK] LE>NS ?AT PLACE1 OPPORTUNITY TO WORK1 & ! RAW MAT]IAL TO WORK UPON >E ESS5TIAL TO HIS LIFE & TO ! PROCUREM5T ( ITS NECESSITIES4 ,TO ! PRODUCTION ( ANY WEAL? :ATEV]1 !SE TWO & ONLY !SE TWO REQUISITES >E NECESS>Y--! MAN & ! MAT]IAL TO BE WR\<T ) OR UPON4 ,AT ! V]Y 9CEPTION ( ! 9DU/RIAL PROBLEM1 HE HAS1 !RE=E1 TO FACE A CONDITION ( SOCIAL >RANGEM5TS1 OR 9/ITUTION1 :I* NOT ONLY 9VITES BUT COMPELS ATTACK1 9 ! %E]E/ SELF-JU/ICE & SELFDEF5SE4 ,9 MOD]N SOCIETY & 9 ! ACCEPT$ COMM]CIAL CU/OMS1 HE F9DS HIS COMPLEM5TAL FACTOR1 ! L&1 ) ALL OPPORTUNITIES & FACILITIES TO EMPLOY HIS LABOR1 ALREADY APPROPRIAT$ & CONTROLL$1 TO HIS EXCLUSION1 BY P]SONS COMP>ATIVELY FEW 9 NUMB]S1 :OSE ADV5T 9TO ! WORLD HAS BE5 9 NO ESS5TIAL FEATURE DIFF]5T FROM HIS [N1 & :OSE WANTS HAVE TO BE SUPPLI$ 9 ! SAME MANN] AS HIS [N--NEV] O!RWISE ?AN ?R\< ! TOIL ( SOME WORK]4 ,9 TRAC+ ! SUBJECT FUR!R HE F9DS ?AT ?IS >BITR>Y CONTROL ( ! L& HAS BE5 D]IV$ FROM AN ORIG9AL 0COMMON [N]%IP10 AS IT ONCE EXI/$ AMONG ALL NATIONS & TRIBES :OSE HI/ORY IS KN[N4 ,& :AT APPE>S SURPRIS+ TO HIM IS ?AT ?IS *ANGE ( PROPRIETOR%IP HAS BE5 BR\<T AB\T ?R\< =CEFUL CONQUE/ AT TIMES1 BUT MORE G5]ALLY BY BETRAYALS ( PUBLIC TRU/S1 BY ! GRADUAL ASS]TION ( PRIVILEGES ?R\< CLASS LAWS1 & ! GROSSE/ ASSUMPTION ( >BITR>Y P[]2 & ?AT ?IS EXCLUSION ( HIMSELF & CLASS FROM ! COMMON RI<T TO LIFE1 NECESS>ILY DEP5D5T UPON ! RI<T TO L&1 IS DE/ITUTE ( ANY EXCUSE 9 MORALS1 CIVIL POLITY1 OR 9DU/RIAL ECONOMY4 ,HE SEES ?AT R5T1 ?AT SYNONYM ( ALL SUBJECTIVE TRIBUTE & \TRAGE1 HAS >IS5 9 NO SU* WAY AS ECONOMI/S TEA*1 BUT ?R\< A PRIVATE CLAIM TO [N]%IP ( ! COMMON DOMA91 BY ! APPROPRIATION ( ! ORIG9AL PUBLIC TAX TO P]SONAL USE4 ,HIS FIR/ & P>AM\NT DUTY TO HIMSELF & FELL[S1 !N1 IS TO QUE/ION ?IS PREJUDGM5T ( ! MATT]1 & TO DEM& A NEW HE>+ ON ! M]ITS & ON ! N[ ASC]TA9$ FACTS & NEWLY-DEVELOP$ REASONS4 ,BUT :E!R HE WILL 9TELLIG5TLY DO ?IS1 OR FAIL TO DO IT1 DOES NOT RELIEVE US FROM \R DUTY ( /AT+ ! RELATION :I* ! WORK] HOLDS TO ! E>?1 HIS PHYSICAL MO!R1 9 EV]Y ECONOMIC1 EQUITABLE1 & E?ICAL S5SE4 ,ONE ( NATURE'S *ILDR5 CAN HAVE NO MORE RI<TS ?AN ANO!R--C]TA9LY NONE :OLLY TO EXCLUDE ANO!R4 ,IF ANY SU*1 LIKE ! EXCLUSIVE CONTROL ( ! L&1 >E ATTEMPT$ TO BE EX]CIS$1 ?R\< ! =CE ( CU/OM1 MISAPPREH5SION ( 0CIVIL LAW10 OR P]V]SION ( ! 0LAW ( EX*ANGE10 ! FIR/ MORAL DUTY1 AS WELL AS ! FIR/ ECONOMIC SUGGE/ION1 IS TO RECTIFY !SE ]RORS1 & E/ABLI% EQUITY &1 AT LEA/1 TO REPEAL & REVOKE ALL SU* VIOLATIONS ( NATURAL RI<T & NATURAL EQUITY AS WORK TO ! SUBJECTION ( ! MAN1 TO ! IMPOV]I%M5T ( ! SOIL1 ! DE/RUCTION ( CIVIL RULE1 ! DEBASEM5T ( PUBLIC MORALS1 & ! D]ANGEM5T ( PRODUCTIVE 9DU/RY & EQUITABLE EX*ANGE4 - ,PRIVATE PROP]TY 9 OR COMM]CIAL [N]%IP ( ! L& CAN GIVE NO VALID TITLE AGA9/ ! 9H]ITANCE NATURE BE/[S1 & UPON ! RECOGNITION ( :I* ALL PR9CIPLES ( JU/IFIABLE PROP]TY OR [N]%IP DEP5D4 0,! E>? BELONGS 9 USUFRUCT TO ! LIV+40 ,NO TITLE :I* GIVES ! PRES5T HOLD] 0! RI<T TO ITS FUTURE PRODUCTS =EV]0 & SO SUBV]TS ?IS PR9CIPLE1 CAN HAVE ANY JU/ =CE OR APPLICATION2 BECAUSE ! V]Y LAW ( PROP]TY DEP5DS UPON 0! RI<T TO CONTROL ?AT :I* \R LABOR HAS EFFECT$40 ,& S9CE LABOR IS ABSOLUTELY P[]LESS TO CREATE OR EFFECT ! PRODUCTION ( ANY PROP]TY )\T ACCESS TO ! RAW MAT]IAL1 ! E>? & ITS SUB/ANCES & =CES1 ANY [N]%IP ( !SE :I* DEB>S LABOR FROM !IR USE DE/ROYS ! RI<T TO PRODUCE PROP]TY1 & ?US /RIKES AT ! FUNDAM5TAL PR9CIPLE UPON :I* ALL TRUE PROP]TY 9 HUMAN SOCIETY RE/S4 ,9 TREAT+ \R SUBJECT1 !N1 WE F9D \RSELVES UNABLE TO MAKE A S+LE ECONOMIC EQUATION EXCEPT UPON ! GR\ND ?AT ! E>? AS WELL AS ! MAN IS FREE4 ,)\T SU* FRE$OM ( ! PRODUC+ FACTORS1 WE CAN HAVE ONLY =C$ EX*ANGES1 & TO USE ! T]MS1 0EQUITABLE EX*ANGE10 OR 0FREE COMPETITION10 IS CALCULAT$1 !N1 ONLY TO DELUDE & 9SN>E4 ,?AT ?IS PR9CIPLE IS RECOGNIZ$ BUT P>TIALLY 9 \R CIVIL 9/ITUTIONS IS NO MORE A REASON :Y WE %\LD DEF] TO IMP]FECT CONDITIONS ?AN :Y A TRADE ECONOMI/ %\LD TREAT AN EXI/+ PROTECTIVE T>IFF AS A NATURAL FACTOR 9 EX*ANGE2 OR :Y A *EMI/ %\LD DESIGNATE AS COMPON5T P>TS ( A PURELY *EMICAL COMPOSITION ! ADULT]ATIONS :I* A TRICKY DEAL] HAS ADD$ TO *EAP5 ! PRODUCTION & DEFRAUD HIS CU/OM]S4 ,IT MU/ BE UND]/OOD1 !N1 ?AT :5 WE SPEAK ( ! EQUITIES ( PRODUCTION1 DIVISION1 & EX*ANGE1 WE ASSUME ! FRE$OM ( 0MAN & ! SOIL40 

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,A,L,L ,P,R,O,D,U,C,T,I,V,E ,9,D,U,/,R,Y ,C,O,O,P,],A,T,I,V,E4 

,PURSU+ HIS 9VE/IGATIONS1 ! WORK] F9DS ?AT ! PRODUCTION ( ! ?+S NECESS>Y TO SUPPLY HUMAN NE$S IS NOT ONLY ACCOMPLI%$ BY HUMAN 9DU/RY1 BUT ?AT SU* 9DU/RY IS 9V>IABLY COOP]ATIVE1 OR SOCIAL1 9 ITS NATURE4 ,:AT CAN BE DONE BY AN 9DIVIDUAL ALONE IS TRIFL+4 ,IT MAY B>ELY SU/A9 9DIVIDUAL LIFE1 BUT CANNOT A*IEVE ANY CONSID]ABLE RESULTS 9 ! WAY ( /OR+ UP PROVISION = TIME ( 9ACTIVITY & ! UNPRODUCTIVE SEASON4 ,ANY ADVANTAGE HE MI<T 5JOY W\LD L>GELY DEP5D ON :AT HE HAD 9H]IT$ FROM P>5TS1 OR FROM SOME ONE :O HAD WR\<T BE=E HIM1 & SO P>TAKES ( ! SOCIAL *>ACT] 9 ITS RELATION TO PA/ LABOR4 

,IT IS USUAL = ! SUCCESSFUL MAN ( AFFAIRS TO PRIDE HIMSELF UPON :AT HE HAS P]SONALLY ACCOMPLI%$4 ,REALLY1 AS AN 9DIVIDUAL1 HE HAS DONE NO MORE ?AN ,JUAN ,F]N&EZ DID UPON HIS OCEAN ISL&4 ,IT IS ! SOCIAL =CE ( :I* HE HAS BE5 AN AG5T & DIRECTOR :I* HAS ACCOMPLI%$ ALL4 ,IT HAS REQUIR$ A M9D CAPABLE ( ORGANIZ+ ?OSE =CES1 & FACULTIES FITT$ TO ! WORK2 BUT !SE FACULTIES >E NOT EXCEPTIONAL4 ,!RE >E (T5 SOLDI]S 9 ! RANKS MORE CAPABLE ( DIRECT+ AN >MY ?AN ! APPO9T$ LEAD]1 & ABILITY = ! ADM9I/RATION ( AFFAIRS IS READILY DEVELOP$ 9 ORD9>Y M5 OR WOM54 ,IT IS ! CONV]G5CE ( ! SOCIAL =CES & !IR CONC5TRATION UPON ! L9E ( 9DU/RIAL OR COMM]CIAL DEVELOPM5T1 NOT EXCEPTIONAL CAPACITIES1 :I* BR+ 9DIVIDUALS TO ! FRONT1 & 5ABLE !M TO APPROPRIATE UNDUE PROPORTIONS ( ! 9DU/RIAL PRODUCTION4 ,! COOP]ATION ( ! 9DU/RI\S IS ESS5TIAL 9 EV]Y /EP1 9 ! L>GE/ MANUFACTORY OR 9 ! SMALL %OP1 9 ! MAMMO? F>M+ 5T]PRISE1 OR 9 ! MORE MODE/ 5DEAVOR4 ,PRODUCTION 9 ANY COMPREH5SIVE S5SE IS ! RESULT ( ! ASSOCIATION1 DIVISION1 & COMB9ATION ( ! LABORS ( MANY4 ,! MANUFACTUR]1 OR DIRECTOR ( LABOR1 GIVES LABOR]S EMPLOYM5T1 DIRECTLY1 & PAYS ! WAGES2 BUT !RE IS ALWAYS FIR/ A SOCIAL DEM& = ! COMMODITY PRODUC$1 & ! O!R ?+S PRODUC$ :I* BEGET ! DEM& >E EQUALLY ! RESULT ( O!R COOP]ATIVE 9DU/RIES4 ,EV5 ! 9DIVIDUAL :O PRODUCES SOME COMMODITY :OLLY BY HIMSELF DOES NOT ESCAPE ! PR9CIPLE1 = :ATEV] HE NE$S BEYOND HIS [N PRODUCT HE HAS TO EX*ANGE HIS PRODUCT =1 & SO 5T]S TACITLY 9TO A COOP]ATIVE CIRCLE4 ,& S9CE LABOR 7PRES5T AS WELL AS PA/ LABOR1 OR CAPITAL7 IS ESS5TIAL 9 ANY BUS9ESS :ATEV]1 SU* BUS9ESS BELONGS 9 FACT TO ! LABOR] AS MU* AS TO ! FURNI%] ( PLANT & MAT]IAL4 ,& AL?\< ! BUILD+S1 TOOLS1 MA*9]Y1 ETC41 MAY BE ! PROP]TY (1 & BE HELD 9 POSSESSION UND] ! 5T]PRISE1 & SO BE SAID TO BELONG TO ! CAPITALI/ OR CONTRIBUTOR ( /OCK1 ! PRODUCT ( =M] LABOR1 /ILL1 )\T ! APPLICATION ( ! LIV+ LABOR1 ! BUS9ESS MU/ CEASE1 & ! 

,A,L,L ,P,R,O,D,U,C,T,I,V,E ,9,D,U,/,R,Y ,C,O,O,P,],A,T,I,V,E4 #aa 

PLANT GO TO WA/E1 AS C]TA9LY AS IF IT %\LD BE )DRAWN OR DE/ROY$4 ,! LOGIC ( ?IS POSITION IS RECOGNIZ$ BY MANY EMPLOY+ CAPITALI/S1 & 9DE$ BY EV]Y EMPLOY] :O HAS LI/5$ TO ! PROPOSITION TO >BITRATE DIFF]5CES ) HIS WORKM54 ,IF ! POSITION ( WORK] & EMPLOY] W]E SIMPLY ONE ( BUY] & SELL]1 AS \R SUP]FICIAL POLITICAL ECONOMY W\LD TEA*1 !RE C\LD BE NO PLACE = >BITRATION1 = NEI!R ! BUY] NOR SELL] C\LD SUBMIT TO ANY >BITRATION TO BUY :AT HE DID NOT WANT OR SELL :AT HE WANT$ TO KEEP1 OR AT PRICES UNSATISFACTORY4 ,= IT IS NOT A MATT] ( TRADE1 ( B>GA9 & SALE1 AT ALL2 BUT A QUE/ION ( EQUITABLE DIVISION BETWE5 C[ORK]S4 ,= ! CONCLUSION IS 9EVITABLE ?AT AS ! BUS9ESS BELONGS TO WORK] & [N] ( PLANT OR444O!R FUNDS ALIKE1 ! PRODUCTS BELONG TO BO? AS P>TN]S1 & ! SUBJECT IS !RE=E1 ON ?IS GR\ND ALONE1 ONE PROP] = >BITRATION :5EV] ! DIRECTORS & ! P]=M]S ( LABOR F9D !MSELVES 9 DISAGREEM5T AS TO DIVISION ( ! RESULTS ( !IR MUTUAL EF=T4 ,IT IS OBVI\S ?AT :]E !SE PR9CIPLES >E FULLY RECOGNIZ$1 COOP]ATION 9 A BROAD & EXACT S5SE IS POSSIBLE--9DE$1 C]TA9--( REALIZATION1 S9CE ! RATIONAL BASIS ALREADY EXI/S4 ,! ONLY PEACEFUL SOLUTION TO ! ANTAGONISMS :I* DI/URB PRES5T 9DU/RIAL RELATIONS LIES1 !N1 9 ?IS DIRECTION1 & EV]Y EF=T TO H>MONIZE 0LABOR & CAPITAL0 T5DS TO MAKE !SE PR9CIPLES KN[N & RESPECT$ BY WORK] & DIRECTOR ALIKE4 ,:5 IT IS UND]/OOD ?AT ALL 9DU/RY1 :E!R COMB9$ OR ISOLAT$1 & UND] ! MO/ UNFAVORABLE AS UND] ! MO/ FAVORABLE CONDITIONS1 IS COOP]ATIVE1 & ?AT IT IS AN EQUITABLE DIVISION ( ITS PRODUCTS ALONE :I* NE$S TO BE S\<T1 & NOT GREAT] FRE$OM OR FACILITIES TO 0BUY & SELL & GET GA910 G5]AL COOP]ATIVE 9DU/RY WILL NECESS>ILY DEVELOP ITSELF ) A RESULT SURPASS+ ! MO/ UTOPIAN CONCEPTIONS4 ,A MO/ PREPO/]\S CLAIM IS PUT =? = AMASS$ WEAL?1 ?AT ONLY :5 CONTROLL$ 9 L>GE AM\NTS & 9 FEW H&S CAN IT BE MADE EFFECTIVE 9 YET UNTRI$ OR EXT5SIVE 5T]PRISES4 ,WE HAVE ONLY TO CONSID] H[ REQUISITE 9 ALL SU* UND]TAK+S IS ! PRES5CE & SKILL ( ! WORK]4 ,! REAL WEAL? /OR$ 9 HIS MUSCLE & BRA91 & 9 HIS RE>+1 TRA9+1 & $UCATION TO DO EFFECTIVE WORK1 & MAKE ANY UND]TAK+ POSSIBLE1 IS MU* GREAT] ?AN ?AT 9 ! METAL OR PAP] DOLL>S ( ! MILLIONAIRE1 :I* P]=M NO S]VICE BUT TO EX*ANGE ! MAT]IAL WEAL? PRODUC$ BY E>LI] LABOR 9TO NEW =MS4 ,! WORK]1 EV5 AS A REPRES5TATIVE ( CONS]V$ WEAL?1 IS A P>TN] ( ! CAPITALI/4 ,BUT ( ALL ?IS ! TRADE ECONOMI/ TAKES NO ACC\NT4 

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,N,A,T,U,R,A,L ,& ,>,T,I,F,I,C,I,A,L ,C,A,P,I,T,A,L4 

,9 ! PRODUCTION ( ANY WEAL? WE F9D AN ACTIVE & A PASSIVE FACTOR1 7#a7 ,MAN1 & 7#b7 ,! ,L&1 EMBRAC+ ALL RAW MAT]IAL & EV]Y NATURAL =CE T5D+ TO ! PROCUREM5T ( ALL GOODS4 ,)\T L& NEI!R MATT] NOR OPPORTUNITY IS AVAILABLE TO ! ACTIVITIES ( ! MAN4 ,ANY ATTEMPT TO EFFECT AN EX*ANGE ) HIS LABOR IS A PURE ABSURDITY4 ,HE [NS NO?+ 9 :I* IT CAN BE EMBODI$2 & :]E ! FULL P[] ( ! MONOPOLY ( ! L& IS EX]T$1 HE CAN MAKE NO T]MS BUT SU* AS ! HOLD] ( ! MAT]IAL DICTATES1 & AT :OSE PLEASURE HE MU/ VACATE EV5 A PLACE 9 :I* TO LIVE OR LABOR1 AS EXIG5CIES MAY OCCUR4 ,& ! L& IS BUT ! BASE OR PASSIVE FACTOR 9 PRODUCTION4 ,UNTIL ACT$ UPON BY ! HUMAN 5]GY IT IS UNPRODUCTIVE 9 ANY ECONOMIC S5SE4 ,LOCATIONS ( GREAT F]TILITY1 OR POSSESS+ M9]ALS1 MAY BE HELD 9 E/EEM = PURPOSES ( MONOPOLY2 BUT1 H[EV] RI* 9 NATURAL RES\RCES1 UND] PURE ECONOMIC LAW !Y >E ONLY TURN$ TO EX*ANGEABLE ACC\NT BY HUMAN TOIL1 & 9 A NORMAL SY/EM ( 9DU/RY WILL YIELD ONLY ! SAME RETURN AS LABOR EMPLOY$ 9 O!R FIELDS & OCCUPATIONS4 

,MAN IS ! ACTIVE AG5T2 COMPLEM5T$ ) ! L&1 HE IS ! ONLY PRODUCTIVE AG5T2 & ?US COMPLEM5T$ IT MAY BE TRULY SAID1 0,LABOR CREATES ALL WEAL?40 ,UND] CLASS LAW MANY ?+S MAY APPE> AS CAPITAL1 & SO SECURE = !IR HOLD]S MU* ( ! WEAL? PRODUC$ BY ! G5]AL 9DU/RY4 ,BUT ?IS >ISES FROM ! WORK+ ( NO ECONOMIC PR9CIPLE1 BUT FROM ! OP]ATION ( CLASS LAW1 B>B>IC CU/OM1 & 9/ITUTIONS D]IV$ FROM AGES ( UNSCI5TIFIC & DESPOTIC RULE4 ,9T]PRET$ BY ! MORE REC5T S*OOL ( ECONOMI/S 0AS ! SPR+ OR S\RCE ( ! 9CREASE ( WEAL?10 L& & LABOR CON/ITUTE ! ONLY CAPITAL1 ! TRUE & ONLY FACTORS 9 ! PRODUCTION ( WEAL?4 ,IT N[ APPE>S ?AT 9COME OR ! PROCUREM5T ( MAT]IAL GOODS1 OR RI<TS TO ! SAME1 MAY >ISE 9 SEV]AL DI/9CT WAYS1 ONLY ONE ( :I*1 H[EV]1 CAN HAVE ANY RECOGNITION 9 ECONOMIC LAW 3 ?AT :I* CONV]TS NATURAL 9TO SOCIAL WEAL?1 ?R\< 9DU/RY4 ,! GA!R+ ( WILD FRUITS1 ! CAPTURE ( GAME1 & G>N]+ ( ! NATURAL PRODUCTIONS1 >E SOME ( ! SIMPLE =MS ( ?IS PROCESS4 ,! O!R EXTREME IS REPRES5T$ :]E GREAT COMPLICATION & COMB9ATION ( LABOR >E 9VOLV$4 ,ALL LEGITIMATE1 E?ICAL1 & ECONOMICAL ME?ODS >E H]E9 EMBRAC$4 ,GIFT1 9H]ITANCE1 & O!R MEANS ( ACQUIR+ WEAL? >E \TSIDE ( EI!R EQUITABLE EX*ANGE OR 9DU/RIAL E?ICS4 ,BUT A CIVIL RULE :I* HAS GR[N \T ( *ATTELISM1 FEUDALISM1 & ! 0LAW ( ! M>KET10 HAS RESULT$ 9 GIV+ A NUMB] ( PROCESSES :]EBY ! WEAL? PRODUC$ BY HUMAN 9DU/RY1 ALWAYS SOCIAL OR COOP]ATIVE1 CAN BE CONV]T$ TO PRIVATE USE1 & TO YIELD ITS POSSESSOR 9COME )\T LABOR OR C>E4 ,?REE ( !SE PROCESSES ONLY NE$ SPECIAL NOTICE1 S9CE ! GROSS] =M1 *ATTELISM1 HAS DISAPPE>$ 9 ALL CIVILIZ$ COMMUNITIES4 

,R,5,T4 

,R5T PROP] IS ?AT SIDE ( AN ASSUM$ EX*ANGE :I* REPRES5TS ! 9EQUALITY 5=C$ BY AN EXCLUSIVE CONTROL ( ! L& REQUIR$ BY ! WORK] TO LIVE & LABOR UPON4 ,IT IS TO ?AT EXT5T )\T ! %AD[ ( COMP5SATION OR EQUIVAL5T1 & ! EX*ANGE ( :I* IT CLAIMS TO BE A P>T IS )\T EQUIVAL5T1 COMPULSORY1 & !RE=E EXCLUD$ FROM ANY EQUATION4 

,FROM ! PROMULGATION ( ! 0,R5T ,!ORY0 BY ,MAL?US & ,RIC>DO UNTIL ! RISE ( ! REC5T S*OOL1 NO ATTEMPT WAS MADE TO R$UCE R5T TO ECONOMIC T]MS4 ,IT WAS1 9 FACT1 CLAIM$ ?AT 0R5T ( L& IS A FUND ?AT EXI/S :OLLY ?R\< EXT]NAL CAUSES1 & OV] :I* ! HOLD] EX]CISES NO CONTROL40 ,N[1 TO ATTEMPT TO COMP5SATE LABOR FROM SU* A FUND IS SIMPLY TO APPROPRIATE SO MU* ( ! RESULTS ( SU* LABOR )\T ANY COMP5SATION :ATEV]2 = S9CE ! FUND >ISES FROM NO?+ :I* ! HOLD] HAS DONE1 ! LABOR ?US GIV5 = ITS USE IS )\T RETURN ON ! P>T ( ! L&LORD4 

,MR4 ,MACLEOD1 ! LEAD] ( ! MORE REC5T S*OOL1 ATTEMPTS TO DEF9E R5T AS 0! M]E RI<T TO DEM& COMP5SATION = USE10 & 0! PUR*ASE ( A USE = A LIMIT$ P]IOD40 ,BUT HE MAKES NO EF=T TO %[ H[ ! RI<T TO *>GE = ! USE ( ! NATURAL =CES IS D]IV$1 NOR H[ ANY EQUITY 9 ! EX*ANGE CAN POSSIBLY EXI/4 ,HE SATISFIES HIMSELF ) REF]5CE ( ALL VALUES TO 0A DESIRE ( ! M9D10 & TO DEM& & SUPPLY1 :I* DET]M9E ! M>KET PRICE4 ,! RATIONALE ( TRAD+ UPON ! DESIRE ( MANK9D TO OCCUPY ! 9H]ITANCE FURNI%$ BY NATURE1 & =C+ PAYM5T = ?AT :I* CO/S NO?+ TO ONE P>TY1 HE DECL9ES TO GRAPPLE )1 & SO LEAVES R5T AS F> FROM ANY ECONOMIC EXPLA- NATION AS ! ELD] S*OOL4 ,IT IS SIMPLY A MATT] )\T ANY ECONOMICAL EXPLANATION4 ,IT IS TAX1 AN EXACTION1 DEP5D5T :OLLY ON 9V]T$ CIVIL RULE1 & DEP5DS ON NO COMM]CIAL PR9CIPLE :ATEV]40 

,9,T,],E,/4 

,9T]E/ NO MORE ?AN R5T CAN 5T] AS A P]MAN5T QUANTITY 9TO ANY EQUITABLE EX*ANGE4 ,IT IS PAYM5T = A USE :I* CO/S ! HOLD] NO?+1 & CAN PLAY A P>T ONLY 9 A =C$ OR FRAUDUL5T EX*ANGE4 ,?IS MAY BE SE5 FROM ! S\RCES FROM :I* ! BORR[] D]IVES IT1 VIZ43 #a/4 ,FROM ! PR9CIPAL BORR[$1 9 :I* CASE IT RESULTS 9 BANKRUPTCY ( ! BORR[]1 & P]HAPS LOSS TO ! L5D]4 #bD4 ,FROM ! /OCK ( ! BORR[]1 RESULT+ 9 HIS IMPOV]I%M5T4 #cD4 ,FROM ! WAGES OR EQUITABLE COMP5SATION ( ! BORR[]1 OR FROM ?AT ( HIS EMPLOYEES1 OR FROM PR(ITS FROM ?OSE ) :OM HE HAS DEALT4 

,P,R,(,I,T,S 

>E IMPOSSIBLE ( EXPLANATION ON ANY PR9CIPLE ( EX*ANGE :ATEV]4 ,!Y >E OV] & ABOVE A TRUE EQUATION1 & REPRES5T NO?+ BUT ! EXCESS ( ONE SIDE OV] ! O!R4 ,TO /ATE AN EQUATION ) PR(ITS IS TO %[ !IR ABSURDITY1 ?US3 A "7 A "4 AE1 OR AA--AC4 ,!RE CAN BE ONLY ONE VALUE TO AC 9 SU* EQUATION1 & ?AT IS 4 ,COMP5SATION = S]VICE 9 EX*ANGE IS A :OLLY DIFF]5T ?+ FROM PURE PR(IT1 & IT IS F\ND ON 9VE/IGATION ?AT ! M]*ANT ( AV]AGE HONE/Y & SUCCESS RECEIVES ONLY A FAIR COMP5SATION = HIS LABOR1 COMP>$ ) O!R EMPLOYM5TS4 ,! SY/EM ( P]C5TAGE IS A V]Y UNC]TA9 ME?OD1 & YET 9 ! ABS5CE ( CLASS LAW1 CORPORATE MONOPOLIES1 & DEVICES TO %IELD P>TIES FROM HEAL?Y COMPETITION1 IT W\LD OP]ATE ) COMP>ATIVE EQUITY4 ,R5T1 9T]E/1 & PR(ITS1 :I* REPRES5T NO S]VICE R5D]$1 >E ( ! SAME NATURE1 & AFFECT 9DU/RY 9 SIMIL> WAYS4 ,?US R5T MAY BE SAID TO BE ! 9T]E/ ( ! MONEY VALUE ( ! L&1 OR ! ANNUAL PR(IT ON ! SAME4 ,9T]E/ MAY BE SAID TO BE ! R5T ( SU* L& AS ! MONEY W\LD BUY2 OR ! PR(IT ( SO MU* CAPITAL AS IT REPRES5TS4 ,PR(IT MAY BE SAID TO BE ! R5T ( SO MU* L& AS ! CAPITAL W\LD EX*ANGE =1 OR ! 9T]E/ ( SO MU* MONEY AS IS 9VE/$ 9 ! /OCK4 ,IT IS H5CE EVID5T ?AT NO SU* DI/9CTION EXI/S BETWE5 R5T1 9T]E/1 & PR(ITS AS A REC5T POPUL> WRIT] 9SI/S UPON4 ,!Y NOT ONLY ACCORD ) EA* O!R1 BUT >E 9T]*ANGEABLE1 MA9TA9 A V]Y UNI=M RATE ) EA* O!R1 & AFFECT 9DU/RY 9 PRECISELY ! SAME MANN]4 ,!Y >E BUT DIFF]5T =MS ( EXPRESSION = ! SAME ?+1 & DEP5D :OLLY UPON ! P[] TO 5=CE CONS5T TO UNEQUAL EX*ANGES4 ,A SEEM+ DI/9CTION EXI/S 9 ! FACT ?AT PR(IT IS MORE G5]ALLY CONNECT$ ) S]VICES ?AN EI!R R5T OR 9T]E/2 BUT IT ONLY NE$S 9 ANY CASE TO DI/+UI% BETWE5 :AT IS PROP]LY BALANC$ BY S]VICE1 9 ORD] TO DET]M9E :AT P>T IS PURELY PR(IT OR 9T]E/ OR R5T4 ,IT IS POSSIBLE1 ALSO1 TO CONCEIVE ( S]VICE 9 ! CONTROL ( ! L&1 9 ITS C>E & ADM9I/RATION1 & SU* S]VICE1 ( C\RSE1 HAS AN EQUIVAL5T COMP5SATION1 ! SAME AS S]VICE 9 EX*ANGE4 ,AN APPRECIABLE S]VICE IS RECOGNIZ$ EV5 9 MATT]S4 ( F9ANCE1 & ! CALL+ ( ! BANK] IS NOT )\T LABOR TO BE EQUITABLY REW>D$4 ,SU* S]VICE1 H[EV]1 IS MA9LY R5D]$ TO ! MONEY-L5D] RA!R ?AN TO ! MONEY-BORR[]1 AS WE %ALL SEE1 S9CE IT 5ABLES ! L5D] TO SECURE ! CONS]VATION ( ! VALUES HE POSSESSES4 ,BUT ! L5D] ( MONEY ON PROP] SECURITY R5D]S NO S]VICE ( ANY K9D1 & HIS 9T]E/1 ABOVE PROPORTIONAL TAXATION1 IS :OLLY A GRATUITY1 = :I* NO RETURN CAN BE %[N1 S9CE ! BORR[]1 9 FURNI%+ SECURITY1 TAKES ALL RISKS UPON HIMSELF4 ,TRADE = PR(IT1 :]E EA* P>TY *>GES ! SAME RATE OR AM\NT1 COMES TO ! SAME ?+ AS IF EA* P>TY TRAD$ AT CO/ & = PURPOSES ( MUTUAL ADVANTAGE M]ELY4 ,IT IS ONLY :]E ! RATE IS EXCESSIVE ON ONE SIDE ?AT ADVANTAGE IS OBTA9$ BY ,QNE P>TY OV] ! O!R4 ,IT IS FROM ! FACT ?AT PR(ITS 9 A MEASURE EQUALIZE !MSELVES ?AT SU* TRADE IS AT ALL 5DURABLE4 ,IT IS ?\<T BY MANY BUS9ESS M5 AS WELL AS TAU<T 9 \R CURR5T POLITICAL ECONOMY1 ?AT R5T1 9T]E/1 & PR(ITS CON/ITUTE ! ,ALPHA & ,OMEGA ( ALL BUS9ESS TRANSACTIONS4 ,BUT ! TRU? IS ?AT !Y >E ! DE/RUCTION ( ALL S]VICEABLE PRODUCTION & ( ALL HONE/ EX*ANGE1 & BUT = ! L>GE EQUALIZATION ( PR(IT :I* TAKES PLACE1 & TO SOME EXT5T ( R5T & 9T]E/ AS WELL1 & BUT = P]IODICAL BANKRUPTCIES & FAILURES1 BY :I* L>GE AM\NTS ( CAPITAL >E ANNUALLY WIP$ \T1 & R5TS1 9T]E/S1 & PR(ITS CANCEL$1 ANY EX*ANGE ( COMMODITIES W\LD BE AS DIFFICULT UND] !IR RULE AS BETWE5 HO/ILE >MIES4 ,TRADE = PR(IT NECESS>ILY 9VOLVES *ICAN]Y1 DECEPTION1 ADULT]ATION1 & *EAT+1 & TO IT !IR G5]AL PREVAL5CE 9 BUS9ESS IS DUE4 ,EQUITABLE COMM]CE IMPLIES ! DIRECT OPPOSITE ( ALL !SE4 ,YET IT IS DIFFICULT = ! ORD9>Y M9D1 $UCAT$ 9 PR(IT-MAK+1 TO UND]/& H[ ANY P]SON %\LD SEEK AN EX*ANGE )\T ACTUALLY LY+ OR PREV>ICAT+1 OR %\LD DO ANY USEFUL S]VICE TO ANO!R )\T SEEK+ A GREAT] S]VICE 9 RETURN4 ,SU* IS ! LOGIC ( \R ECONOMIC TEA*+1 ?\< ! LEA/ REFLECTION %\LD %[ ONE ?AT ! MA9 S]VICE 9 ALL PRODUCTION & 9 ALL EX*ANGES MU/ ( NECESSITY BE NOT ONLY DEVOID ( PR(IT1 BUT M9US ! PR(ITS :I* GO TO ! S*EM+ & DI%ONE/4 

,*,A,P,T,] ,I,V4 

,C,O,N,S,],V,$ ,W,E,A,L,?4 

,:AT IS MADE ! SOLE ECONOMIC PR9CIPLE BY ! LAT] S*OOLS ( ECONOMI/S1 VIZ41 ,! RI<T TO UNE>N$ 9COME1 IS N[ F\ND TO BE DE/ITUTE ( ANY NATURAL BASIS1 & :OLLY DEP5D5T ON /ATUTES & CU/OMS AS B>B>\S AS ! AGES FROM :I* !Y HAVE BE5 D]IV$4 

,9CREASE ( WEAL? OCCURS ONLY ?R\< ! APPLICATION ( LABOR TO ! L&4 ,SU* 9CREASE IS GREATLY FACILITAT$ BY A COMB9ATION & DIVISION ( LABOR4 ,?IS RELATES ALSO TO SU* COMB9ATION AS IS MADE BY JO9+ PRES5T LABOR TO ! PRODUCT ( PA/ EF=T4 ,! CONC5TRATION ( =CE IS ALSO PROMOTIVE ( RESULTS4 ,& ?US IT IS MADE TO APPE> ?AT ! POSSESSOR ( ! EXI/+ PRODUCT IS AN ACCESSORY1 M]ELY AS ! HOLD] ( SU* MAT]IAL1 TO ! NEW PRODUCTION4 ,& 9 CONNECTION ) ! EXCLUSIVE [N]%IP ( ! L&1 A NECESSITY = ! CONCURR5CE ( ! L&LORD & ( ! CAPITALI/ IS MADE SO GREAT ?AT !Y >E1 TO A C]TA9 EXT5T1 ABLE TO LIMIT PRODUCTION1 & TO PREV5T IT :OLLY :5EV] !IR T]MS AS TO A %>E ( ! 9CREASE >E NOT COMPLI$ )4 ,9 ! ABS5CE ( CLASS LAW & EXCLUSIVE 

PRIVILEGE1 SU* RESULT C\LD NOT POSSIBLY OCCUR4 ,= ALL =MS ( WEAL? CON/ANTLY DIM9I% BY NATURAL DECAY & WA/E1 BY ! USE ( IMPROV$ ME?ODS1 & BY ! *ANGES ( FA%ION4 ,! NECESSITY ONE F9DS TO PROVIDE = RE>+ (FSPR+1 ! APPROA* ( OLD AGE & DECAY ( ACTIVE P[]1 BEGET A CON/ANT DEM& = NEW LABOR TO CONS]VE WEAL? ?R\< *ANGE ( =M & PRODUCTION ( 5DUR+ GOODS4 ,?US ! DESIRE TO ASSOCIATE ! PRODUCTS ( PA/ LABOR ) NEW 5T]PRISES MU/ BE MUTUAL1 &1 UND] NORMAL CIVIL & SOCIAL CONDITIONS1 C\LD NOT POSSIBLY COMM& A PREMIUM O!R ?AN TRANSI5T & 9CONSID]ABLE & ALT]NATE UPON EI!R SIDE4 ,! M]E FACT ?AT SU* /OR$ PRODUCTS ( LABOR CAN BE US$ TO FURNI% IMPROV$ TOOLS & MA*9ES1 SO F> FROM JU/IFY+ 9T]E/ OR PR(IT1 ONLY MAKES MORE URG5T ! NECESSITY ( HAV+ SU* PRODUCTS CONS]V$ )\T DELAY1 S9CE SU* IMPROVEM5TS T5D CON/ANTLY TO R$UCE ! VALUE ( MANY EXI/+ =MS ( WEAL?4 ,9T]E/ = USE ( CREAT$ WEAL? C\LD NOT BE MA9TA9$1 S9CE IT T5DS CON/ANTLY TO DECREASE 9 VALUE & SO =CE ! EMPLOYM5T CON/ANTLY ( MORE LABOR 9 ITS CONS]VATION4 ,TO DET]M9E ! ECONOMIC EQUITY ( ?IS QUE/ION IT IS ONLY NECESS>Y TO CONSID] ! 5TIRE AM\NT ( LABOR1 PA/ & PRES5T1 & ! 5TIRE PRODUCT >IS+ FROM ANY 9DU/RIAL PROCE$+1 & ! MATT] ( DIVISION READILY APPE>S4 ,:ATEV] AS AT PRES5T GOES TO ! [N] ( ! L&1 OR AS 9T]E/ ON MONEY OR PR(IT TO CAPITAL1 IS SO MU* = :I* NO ECONOMICAL ACC\NT CAN BE R5D]$2 BECAUSE IF AT ONE TIME !RE APPE>$ AN UNUSUAL DEM& = =MS ( WEAL? ALREADY EXI/+1 9 ORD] TO EMPLOY PRES5T LABOR1 SU* DEM&1 RESULT+ 9 A PREMIUM1 MU/ 9 ITSELF1 UND] A SY/EM ( FREE COMPETITION1 BEGET AN 9CREASE 9 CONS]V$ WEAL?1 & T5D 9 AN EQUAL DEGREE TO 9CREASE ! DEM& = PRES5T LABOR TO RECONV]T & RECREATE SU* VALUES4 ,! MEAN OR EQUILIBRIUM T[>D :I* DEM& & SUPPLY W\LD CON/ANTLY T5D W\LD BE ! EQUALITY ( COMP5SATION BETWE5 ! HOLD] ( PA/ PRODUCTS ( LABOR & ! DO] ( PRES5T LABOR4 ,& FLUCTUATIONS 9 ! RELATIVE PRICE ( EA* W\LD EXT5D TO AS F> UPON ONE SIDE ( ! MEAN AS UPON ! O!R4 ,?IS N[ TAKES PLACE TO A CONSID]ABLE EXT5T UND] \R V]Y IMP]FECT SY/EM ( WAGES1 9 ! RELATIVE PRICE :I* IS MA9TA9$ BETWE5 ! WAGES ( LABOR1 AT A P>TICUL> TIME1 & ! PRICE ( MAT]IALS UPON :I* SU* LABOR IS EMPLOY$1 T5D+ FROM EXTREMES1 CAUS$ BY :ATEV] DI/URB+ =CE1 TO A RELATIVE MEAN4 ,:AT OB/RUCTS EFFECTIVELY ! NATURAL WORK+ ( ! LAW IS ! MONOPOLY ( ! RAW MAT]IAL1 ! L&2 ! MONOPOLY ( MONEY1 :I* RESULTS FROM CLASS LAW2 & ( COMMODITIES1 RESULT+ FROM CONTROL ( L& & MONEY BY A LEGALLY PRIVILEG$ FEW1 & FROM ! IGNORANCE ( ! 9DU/RI\S 9 ECONOMIC LAW1 :I* P]MITS ! *ILDI% DESIRE = IMM$IATE GRATIFICATION TO \TWEI< 9 !IR E/IMATE ! MORE DI/ANT & SUB/ANTIAL SATISFACTION4 

,*,A,P,T,] ,V4 

,M,O,T,I,V,E,S ,T,O ,9,D,U,/,R,Y4  

,! IMPULSE TO ALL HUMAN ACTIVITY IS ! GRATIFICATION ( SOME DESIRE ( ! M9D4 ,?IS DESIRE IS MODIFI$ & LIMIT$ BY ! ABILITY TO ACQUIRE1 & BY ! RELATION :I* ! 9DIVIDUAL1 OR COLLECTIVELY ! SOCIETY1 SU/A9S TO O!R 9DIVIDUALS1 OR SOCIETIES1 & BY ! DEGREE ( UTILITY EMBRAC$ 9 ! DESIR$ ?+4 

,\R FIR/ REFLECTION1 ON NOTIC+ ANY MAT]IAL OBJECT ( DESIRE1 RELATES TO ! EX]TION NECESS>Y TO SECURE IT4 ,IF IT BE 9 ! POSSESSION ( ANO!R1 WE %ALL CONSID] :E!R WE MAY TAKE IT BY =CE1 COMPASS IT BY CUNN+1 OR1 LA/LY1 OBTA9 IT BY EQUITABLY EX*ANG+ = IT SOME PRODUCT ( \R [N LABOR ) :I* WE >E WILL+ TO P>T4 ,! FIR/ & SECOND >E M]E UNCULTUR$ ANIMAL SUGGE/IONS2 ! LA/ IS ! ONLY ONE :I* IS RECOGNIZABLE EI!R 9 E?ICS OR ECONOMICS4 

,:AT NEXT *ALL5GES \R ATT5TION IS ! FACT ?AT O!RS BESIDES \RSELVES >E 9 ! WORLD1 & ?AT SOME EXPLA9ABLE RELATION BETWE5 \RSELVES & EV]Y O!R HUMAN BE+ EXI/S & REQUIRES DEF9ITION4 ,?US WE HAVE DISCOV]$ TWO K9DS ( RELATIONS TO ?+S DESIR$ BY US1 9 ONE ( :I* WE HAVE A COMMON 9T]E/ ) O!RS1 & 9 ! O!R ( :I* WE F9D C]TA9 ?+S ALREADY APPROPRIAT$ BY O!RS1 & :I* WE CAN ONLY OBTA9 BY PUR*ASE4 

,AS A MEANS ( DI/+UI%+ BETWE5 ! ?+S ?US DIFF]5TLY RELAT$ TO US1 WE MAY CALL ! ONE CLASS NATURAL1 & ! O!R >TIFICIAL WEAL?4 ,& S9CE 0! L&10 9 ITS BROAD] S5SE1 MEANS ALL NATURAL ?+S & =CES1 WE MAY EMPLOY ?AT T]M 9 PREF]5CE TO NATURAL WEAL?4 ,N[ IT MU/ BE OBVI\S ?AT V]Y DIFF]5T PR9CIPLES ( [N]%IP ATTA* TO ! L& ?AN ATTA* TO ?OSE ?+S :I* HAVE BE5 PRODUC$ OR R5D]$ USEFUL BY HUMAN LABOR1 AL?\< ! L& MAY /ILL BE SAID TO BE CONTA9$ 9 EV]Y MAT]IAL ?+1 H[EV] MODIFI$ OR *ANG$ BY HUMAN LABOR4 ,BUT [N]%IP ( SU* ?+S IS SO RE/RICT$1 ?R\< ! NATURAL LIMITATIONS TO :I* LABOR IS ALWAYS SUBJECT 9 ITS APPLICATION TO ! L&1 ?AT NO S]I\S 5GROSSM5T ( NATURAL WEAL? C\LD POSSIBLY TAKE PLACE 9 ! ABS5CE ( >BITR>Y & UNEQUAL LAWS4 ,= TO ! PRODUCTION ( ?+S ( G5]AL UTILITY !RE APPE>S NO LIMIT4 ,& NO 9/ITUTIONAL LIMIT IS NE$$4 ,TO ! OCCUPANCY ( ! L& !RE IS A NATURAL & V]Y POSITIVE LIMIT1 S9CE NO CONSID]ABLE MULTIPLICATION ( ITS >EA IS CONCEIVABLE1 & ! 9DIVIDUAL WORK] IS LIMT$ TO :AT HE CAN P]SONALLY OCCUPY & MAKE PRODUCTIVE4 ,ANY EXT5SION ( P]SONAL DOM9ION IS 9 DISREG>D ( ECONOMICAL LAW AS WELL AS ( SOCIAL RI<T4 

,! DESIRE = ?+S S]VICEABLE TO \RSELVES 9VOLVES ALSO ! DESIRE TO 9CREASE \R POSSESSIONS1 )\T ESPECIAL REF]5CE TO ! E/IMATE PUT UPON 9DIVIDUAL ?+S4 ,WE COME ?US TO E/EEM C]TA9 ?+S1 NOT BECAUSE !Y FURNI% A P>TICUL> GRATIFI 

CATION1 BUT BECAUSE !IR POSSESSION 5ABLES US TO COMM& 9 EX*ANGE AT WILL :ATEV] O!R ?+S WE MAY AT ANY TIME HAVE A DESIRE =4 ,?US /ABLE VALUES & ! CURR5T1 & ESPECIALLY ! LEGAL1 T5D] BECOME OBJECTS ( P>AM\NT DESIRE4 ,F9D+ ?AT ! CONTROL ( P]SONS & ( L&S 5ABLES ONE TO COMM& S]VICES & COMMODITIES )\T DIRECT P]SONAL EF=T1 ! RI<T TO [N !SE E>LY BECAME OBJECTS ( 9SATIABLE DESIRE1 S9CE SU* DESIRES W]E NOT C\NT]BALANC$ BY TOIL OR ANY SACRIFICE ( EASE 9 ! PROCUREM5T ( GRATIFICATION4 ,! DESIRE1 !N1 = MEANS TO SAVE \RSELVES ! LABOR NECESS>Y TO SUPPLY \R WANTS BEGETS A PASSION = CONTROL OV] ! P]SONS ( ?OSE :O WILL LABOR DIRECTLY1 OR = 5GROSSM5T ( ! L& & OPPORTUNITY TO LABOR1 SO ?AT WE CAN GRATIFY ! DESIRES ( ! M9D BY COMPULSORY EX*ANGES ) ?OSE SO UNFAVORABLY SITUAT$ AS TO REQUIRE \R ASS5T TO ! APPLICATION ( !IR LABOR TO PRODUCE DESIRABLE ?+S = !MSELVES4 ,TO TREAT ECONOMICS1 !RE=E1 AS ! 0SCI5CE ( EX*ANGES10 )\T REG>D TO ! RELATION 9 :I* ! EX*ANG]S /& TO EA* O!R & TO ! L& FROM :I* ALL VALUES >E TO BE CREAT$1 MU/ PROVE A TOTALLY B>R5 AS WELL AS A 0DISMAL SCI5CE40 ,) ! VA/ 9EQUALITIES 9 CONDITION1 & ! >BITR>Y CONTROL ( A FEW OV] ! MAT]IAL & =CES ( NATURE1 & ?R\< !M ( ! WORK] HIMSELF1 NO EQUITABLE OR O!R ?AN A =C$ EX*ANGE IS POSSIBLE4 ,A SLAVE OR T5ANT CAN ONLY EX*ANGE ) HIS MA/] OR L&LORD UND] DURESS1 & AT SU* DISADVANTAGE AS TO SET AT DEFIANCE NOT ONLY ! E?ICS & EQUITIES1 BUT ALSO ! TRUE ECONOMICS ( LIFE4 

,*,A,P,T,] ,W,I4 

,( ,W,A,G,E,S4 

,! T]M WAGES1 AS COMMONLY EMPLOY$1 HAS A V]Y DIFF]5T MEAN+ FROM ! NATURAL SEQU5CES TO ! APPLICATION ( 9DU/RY1 & :I*1 AS NOTIC$ BY ,ADAM ,SMI?1 CON/ITUTES ! 5TIRE PRODUCT RESULT+ !REFROM4 ,! T]M 9 ?IS S5SE ONLY IS CAPABLE ( SCI5TIFIC USE4 ,AS US$ TO D5OTE ! PUR*ASE ( LABOR1 BY ! DAY OR O!R P]IOD1 IT GIVES BUT ! MO/ UNC]TA9 9DICATION ( ANY EQUITABLE OR ECONOMIC PR9CIPLE4 ,ALL ?AT CAN BE SAID ( IT ) EXACTNESS IS ?AT IT FOLL[$1 & IS 9 SOME RESPECTS PREF]ABLE TO1 S]FDOM OR SLAV]Y4 ,ONLY UND] PECULI> CONDITIONS1 :I* R>ELY OCCUR1 CAN IT POSSIBLY HAVE ANY JU/ OP]ATION OR T5D TO DEVELOP 9DU/RY ) ANY FAVORABLE ECONOMIC RESULT4 ,AT ! BE/1 AS A DAILY /IP5D TO MANUAL LABOR1 AS SAL>Y TO ! DIRECTORS ( LABOR1 TO GOV]NM5T & CORPORATION (FICIALS1 & TO ALL :O D]IVE A /AT$ 9COME FROM ANY S\RCE :ATEV]1 IT EFFECTS ! MO/ ABSURDLY UNEQUAL COMP5SATION = EQUALLY USEFUL S]VICE WE CAN POSSIBLY CONCEIVE4 ,N[1 ?AT ?IS DISP>ITY MA9LY RESULTS FROM >BITR>Y & UNEQUAL LEGISLATION1 & FROM A MISUND]/&+ & MISAPPLICATION ( ECONOMIC LAW1 SEEMS TOO PALPABLE TO BE S]I\SLY DISCUSS$4 ,MY PURPOSE H]E IS TO %[ :AT ! WAGES SY/EM IS ECONOMICALLY1 & NOT TO DWELL UPON ITS MON/R\S 9EQUALITIES4 ,NOR CAN ,I MORE ?AN REF] TO ! OLD FALLACY ( ! 0WAGES FUND40 ,! PAYM5T ( WAGES FROM A FUND IS CONF9$ TO ! MONEY OR CURR5T FUNDS US$ TO MEET ! P]IODIC SETTLEM5T1 & HAS NO APPLICATION TO ! G5]AL /OCK OR PLANT ( ! EMPLOY]4 ,USUALLY ! WAGES >E FIR/ E>N$1 & ! AM\NT AT ANY TIMEPAID IS MORE ?AN EQUAL$ BY ! AM\NT ALREADY ADD$ TO ! /OCK2 & G5]ALLY ! EMPLOY] IS 9 DEBT TO ! EMPLOYEE = ! DAY'S1 WEEK'S1 OR MON?'S S]VICE4 ,! PAYM5T ( WAGES IS BUT ! RETURN1 !N1 FULL OR P>TIAL1 ( ! CAPITAL ( ! WORK]1 :I* HE HAS 9VE/$ 9 FOOD1 CLO?+1 %ELT]1 & CULTURE1 NECESS>Y TO 5ABLE HIM TO DO ! WORK1 & :I* ?R\< HIS S]VICE HE HAS TRANSF]R$ TO ! /OCK ( ! EMPLOY] BE=E SU* PAYM5T IS MADE4 ,SU* IS ! TRUE WAGES FUND4 ,IT IS D]IV$ FROM ! FUND ( ! LABOR]1 NOT ?AT ( ! EMPLOY]4 ,:5 EQUITABLE1 ! WAGES CON/ITUTE AN EX*ANGE1 & CAN HAVE NO O!R SIGNIFICANCE4 ,NOR DO ! MORE REC5T S*OOL ( ECONOMI/S ATTEMPT TO TREAT IT AS ANY?+ ELSE4 ,H[ IMP]FECT & DECEPTIVE AN EX*ANGE IT USUALLY IS 2 H[ DEVOID ( ANY?+ LIKE EQUITY2 H[ DETRIM5TAL TO USEFUL PRODUCTION1 & H[ PROMOTIVE ( FAVORITISM & S9ECURES1 SEEMS TO NE$ NO ILLU/RATION4 ,IT IS CONCEIVABLE ?AT ! ME?OD ( WAGES1 UND] TRULY NATURAL RELATIONS1 MI<T BE & AT TIMES DOES BECOME A TOL]ABLE APPROXIMATION TO A ,JU/ DIVISION ( ! 9DU/RIAL PRODUCTION1 & W\LD UND] SU* CIRCUM/ANCES GIVE NO JU/IFICATION TO ! ANTAGONISM :I* (T5 EXI/S BETWE5 WORKM5 & !IR IMM$IATE EMPLOY]S4 ,:]E ! WORK] HAS A HOME & OPPORTUNITY TO EMPLOY HIMSELF1 9 ! FIELDS & ) ! =CES ( NATURE1 HE C\LD NOT BE TAK5 ADVANTAGE ( OR GREATLY WRONG$1 & :AT IS ABSURDLY CALL$ 0! IRON LAW ( WAGES0 C\LD HAVE NO APPLICABLE HI< OR L[ MONEY RATE DET]M9ES NO?+1 BECAUSE !RE IS USUALLY A CORRESPOND5CE BETWE5 ! RATE ( WAGES & ! CO/ ( COMMODITIES NE$$ BY ! WORK]4 ,TO RAISE OR TO L[] ! MONEY RATE ( WAGES HAS (T5 A V]Y DIFF]5T EFFECT FROM :AT EI!R WORK] OR EMPLOY] ANTICIPATES4 ,:5 !RE SEEMS DANG] ( OV]-PRODUCTION1 L[ PRICES & DULL SALES SUGGE/ TO ! EMPLOY] A R$UCTION ( WAGES4 ,& ?IS MI<T GIVE A TEMPOR>Y RELIEF IF O!R TRADES MA9TA9$ !IR =M] RATES4 ,BUT R$UCTION 9 ONE L9E CAUSES ! WORKM5 9 ?AT L9E TO DECREASE ! CONSUMPTION ( O!R ?AN !IR [N PRODUCE1 & ?IS BEGETS AN APPE>ANCE ( GLUT 9 O!R PRODUCTS1 & SO ! WORK ( *EAP5+ PRODUCTS & L[]+ WAGES GOES ON & REPEATS ITSELF 9 ALL BUT EXCEPTIONAL L9ES4 ,& YET PROPORTIONAL CO/ ( LIV+ WILL REMA9 UN*ANG$4 ,& ! SAME ?+ MAY OCCUR :5 WAGES >E RAIS$4 ,BUT IF WAGES W]E UPHELD OR EV5 9CREAS$ G5]ALLY 9 ALL L9ES ( 9DU/RY 9 TIMES ( DEPRESSION1 ?IS W\LD CORRESPOND+LY 9CREASE ! P[] ( ! WORK]S TO PUR*ASE1 & SO PROMOTE DEM& = ALL USEFUL APPLICATION4 ,WAGES >E USUALLY PAID 9 MONEY1 & A COMMODITIES1 & ?US REVIVE ! CIRCULATION ( GOODS & BUS9ESS G5]ALLY4 ,TO %ORT5 ! H\RS ( LABOR1 IF IT R$UC$ ! 4 AM\NT ( GOODS PRODUC$ :I* W]E OV]-SUPPLI$1 W\LD HAVE A LIKE T5D5CY TO 9CREASE DEM& AS RELAT$ TO SUPPLY4 ,! WORK]1 UN=TUNATELY1 DOES NOT APPRECIATE ! FACT ?AT ! MONEY RATE & ! RATE IT FURNI%ES ( ! NECESS>IES ( LIFE >E V>Y+2 NOR ! EMPLOY] ?AT TO R$UCE ! MONEY RATE ( WAGES DOES NOT NECESS>ILY *ANGE ! PROPORTION BETWE5 ! CO/ & ! M>KETABLE VALUE ( HIS PRODUCT4 ,ANO!R1 & ! ONLY CORRECT VIEW ( WAGES1 IS ?AT IT IS ! E>NE/ ( ULTIMATE DIVISION 9 ! COOP]ATIVE 9DU/RY4 ,?AT ?IS IS 9DE$ ! G5]AL NATURE ( SU* PAYM5TS !RE CAN EXI/ NO D\BT1 :5 WE CONSID] ?AT ALL SOCIAL 9DU/RY IS COOP]ATIVE1 & ?AT IT IS ONLY ?R\< 9F]R$ CONTRACT1 OR B>GA9 & SALE1 ?AT ! WORK]'S %>E 9 ! PRODUCTION IS ASSUM$ TO BE TRANSF]R$ TO ! EMPLOY]1 CAPITALI/1 OR DIRECTOR ( LABOR4 ,BUT S9CE UND] EXCLUSION FROM ! RAW MAT]IAL SU* CONTRACTS >E MADE UND] DURESS1 SU* EX*ANGES >E =C$1 & SU* PAYM5T ( WAGES DOES NOT DE/ROY ! LABOR]'S RI<TFUL CLAIM TO ?AT :I* CON/ITUTES REALLY ! ONLY ACCUMULATIONS ( CAPITAL4 ,!SE ACCUMULATIONS >E G5]ALLY ABSORB$ BY L&LORD & USUR]1 :O C>RY (F ! PRIZE :ILE ! LABOR] & EMPLOY] >E /RUGGL+ TO SEE :I* %ALL SUFF] LEA/ FROM ! SPOLIATION NEI!R CAN AVOID4 ,:AT HAS BE5 T]M$ ! 0IRON LAW ( WAGES0 HAS NO RELATION TO ANY TRUE ECONOMIC PR9CIPLE4 ,PAYM5T ( WAGES IS NOT MADE FROM ANY FUND SET AP>T1 AS ASSUM$ BY ! E>LY S*OOL1 = NO SU* FUND EXI/S4 ,! LABOR] NOT ONLY EFFECTS ! PRODUCTION FROM :I* ! WAGES >E D]IV$1 BUT DESIRES TO CONSUME ?OSE ?+S = :I* IT IS EX*ANG$ & :I* BEGET ! DEM&4 ,NATURAL WAGES >E :AT LABOR PRODUCES OR ?AT = :I* ! PRODUCE WILL EX*ANGE4 ,H5CE ! PAYM5T OR 5JOYM5T ( ! NATURAL WAGES CAN NEV] BEGETA SURFEIT ( LABOR PRODUCTS1 BUT1 ON ! CONTR>Y1 AN EV]-9CREAS+ DEM&4 ,UND] ANY 9TELLIG5T & EQUITABLE DIRECTION PRODUCT W\LD CALL = PRODUCT1 SO ?AT1 EXCEPT 9 SPECIAL FIELDS & 9 EMPLOYM5TS REQUIR+ SPECIAL SKILL & +5UITY1 NO S]I\S COMPETITIVE /RIFE C\LD >ISE2 NOR UNTIL ! UTMO/ 

LIMIT ( PRODUCTIVE CAPABILITY HAD BE5 REA*$ C\LD !RE OCCUR ANY PRESSURE ( POPULATION UPON ! MEANS ( SUBSI/5CE1 S9CE EA* COMB9ATION & DIVISION ( LABOR OR FACILITY = EX*ANGE W\LD 9- CREASE PROPORTIONAL PRODUCTION4 ,9 ANY NORMAL SYS- TEM ( EX*ANGE1 COMPETITION W\LD BE DEVELOP$ AT ! TOP ( ! 9DU/RIAL SCALE1 & NOT AS N[ BY COMPULSORY =CE AT ! V]Y BOTTOM4 ,BUT :5 WAGES1 UND] MONOPOLY ( ! RAW MA- T]IAL1 BECOME R$UC$ TO A FRACTION ( ! LABOR PRODUCT1 & IT IS ?US R5D]$ POSSIBLE TO )HOLD FROM ! MANY ! MEANS ( SELF-EMPLOYM5T1 ! RESULT ASCRIB$ TO ! 0IRON LAW'0 IS EFFECT$1 & ! LABOR]S NOT ONLY >E R$UC$ TO ! V]GE ( B>E SUBSI/5CE1 BUT 9 MANY CASES >E D5I$ EMPLOY- M5T ALTOGE!R2 & ?AT1 TOO1 :5 BUT A SMALL POR- TION ( ! L& ( A C\NTRY IS OCCUPI$ OR PUT TO PRODUCTIVE USE4 ,?US ALL ! DISMAL RESULTS ( ! 0IRON LAW0 & ( ! ,MAL?USIAN PRESSURE >E REA*$1 AL?\< NOT ONE ( ! NATURAL CONDITIONS EXI/S :I* IT IS ALLEG$ CON/ITUTE ! PRODUC+ ,CALL,SE4 ,AS F\ND 9 EXI/+ SOCIETY1 BO? ! DEPRESSION ( WAGES & ! LACK ( EMPLOYM5T >E ! RESULT ( P]NICI\S >TIFICIAL 9/ITUTIONS1 & ( ! IGNORANT OR PURPOS$ VIOLATIONS ( ECONOMIC LAW1 & NOT ( ! OP]ATION ( ANY NATURAL =CE OR PR9CIPLE :ATEV]4 ,NATURAL WAGES IS ! :OLE PRODUCT ( ONE'S EF=T4 ,CONV5TIONAL WAGES UND] =C$ COMPETITION1 AS %[N BY ,RIC>DO1 IS ! AM\NT :I* IT CO/S TO MA9TA9 ! LABOR]S & KEEP UP A SUPPLY ( !M1 DIFF]+ 9 NO IMPORTANT P>TICUL> FROM ! PH5OM5A :I* ATT5DS ! SU/A9+ ( A /OCK ( *ATTEL-SLAVE LABOR]S1 ) ?IS ADVANTAGE TO ! EMPLOY]1 H[EV]1 ?AT !SE WAGE SLAVES TAKE FROM (F HIS H&S ! TR\BLE ( KEEP+ UP ! /OCK1 SO ?AT HE IS ALWAYS 5ABL$ TO OBTA9 OR TO DISP5SE ) !IR S]VICES1 ACCORD+ AS ! EXIG5CIES ( BUS9ESS OR O!R CIRCUM/ANCE MAY REQUIRE4 ,HE IS ?US ABLE TO BUY LABOR AT CO/1 ?\< HE ALWAYS TRIES TO SELL IT AT A PR(IT4 ,& IT IS ?IS DIFF]5CE BETWE5 :AT LABOR CO/S & :AT IT PRODUCES :I* CON/ITUTES OR CREATES ! FUND FROM :I* IT IS PRET5D$ WAGES >E PAID1 & FROM :I* ALL R5T1 9T]E/1 OR PR(IT TO CAPITAL IS D]IV$4 ,SO F> FROM ITS BE+ TRUE1 !N1 ?AT CAPITAL SETS AP>T A FUND FROM :I* ! WAGES ( LABOR >E PAID1 IT IS ABSOLUTELY C]TA9 ?AT ! ONLY S\RCE ( 9CREASE FROM :I* ! 9COMES ( L&LORDS1 CAPITALI/S1 & ! SPECULATIVE CLASS G5]ALLY >E D]IV$ IS ! LEGALIZ$ DEVICES BY :I* !Y >E 5ABL$ TO )HOLD FROM ! PRODUC] ! NATURAL WAGES ( LABOR1 ?R\< CONTROL ( ! NATURAL ELEM5TS & OPPORTUNITIES :I* BELONG ( RI<T TO ALL4 

,! GL>+ 9CONSI/5CY & BRAZ5 IMPUD5CE ) :I* IT IS ASS]T$ ?AT CAPITALIZ$ WEAL? BEGETS 9COMES & PAYS WAGES 9 ACCORDANCE ) ANY LAW ( EQUITABLE EX*ANGE1 IS EVID5C$ 9 ! FACT ?AT AT ! SAME TIME 9 :I* CAPITAL 0GOES ON 9CREAS+ & 9CREAS+ :ILE LABOR REMA9S /ATION>Y10 IT IS ASSUM$ ?AT 9DU/RY IS NOT ABLE TO PRODUCE 5\< TO KEEP ITS RANK & FILE FROM />VATION4 

,*APT] ,V,I,I4 

,ECONOMIC ,VALUES4 

,WE HAVE SE5 ?AT ! IMPULSE TO ACTION MU/ SPR+ FROM SOME DESIRE ( ! M9D4 ,LOVE ( ACTION ITSELF MAY 9VITE EX]TION4 ,USUALLY1 H[EV]1 !RE IS ! ATTA9M5T ( SOME EXT]NAL OBJECT1 9 ADDITION TO ?AT :I* 9CITES TO ACTIVITY4 ,! GOV]N+ PR9CIPLE :I* S]VES AS A REGULATOR TO ! DEVELOPM5T ( ?IS IMPULSE IS ! WA/E ( 5]GY1 ! P],SONAL SACRIFICE :I* ! ATTA9M5T ( ! DESIR$ OBJECT REQUIRES4 

,9 ! 9T]C\RSE & EX*ANGES :I* TAKE PLACE BETWE5 ONE'S SELF & O!RS1 !RE IS ONE /&>D1 MORE OR LESS CLE>LY RECOGNIZ$ BY ALL1 & 9 EV]Y TRANSACTION4 ,IT IS ! /&>D ( UTILITY1 :I* ECONOMI/S T]M 0! CAUSE ( VALUE40 ,= H[EV] ]RONE\S MAY BE \R E/IMATE ( :AT WILL PROMOTE \R [N WELL-BE+1 OR ?AT ( O!RS ?R\< :I* WE SEEK TO PROMOTE \R [N1 NO ACTION CAPABLE ( RATIONAL EXPLANATION CAN BE CONCEIV$ 9 :I* ?IS RESULT IS NOT PROPOS$ TO ONE'S SELF4 ,ACTS ( REV5GE OR MALICE >E D\BTLESS MISE/IMATES ( :AT WILL PROMOTE ! P]SONAL WELL-BE+1 & >E NOT BR\<T UND] EI!R E?ICAL OR ECONOMIC RULE1 BE+ ! RESULT ( UNCULTUR$ & UNGOV]N$ WILL4 ,! DELIB]ATE & RATIONAL DESIRE IS UNQUE/IONABLY BAS$ UPON ! CONCEPTION ( :AT WILL RESULT 9 ! GREATE/ GOOD4 ,9 A RUDE /ATE HUMAN DESIRE IS SUBJECT TO A LAW :I* SEEMS TO CORRESPOND TO ! ATTRACTION ( PHYSICAL BODIES4 ,AN OBJECT EXCITES OR REPELS DESIRE 9V]SELY 9 PROPORTION AS ! SQU>ES ( ITS DI/ANCE FROM US 9 SPACE OR TIME1 & ! DIFFICULTIES 9T]V5+4 ,?IS FACT GIVES EXPLANATION TO C]TA9 PH5OM5A 9 MORALS & TRADE1 :I* O!RWISE APPE> TO DISPROVE ! !ORY ( UTILITY1 & ACC\NTS = ! FACTS :I* SEEM TO CONTRADICT IT4 ,?US ! PASSIONATE MAN ELECTS TO GRATIFY HATR$ OR LU/1 BECAUSE ! GRATIFICATION IS NE> & ! ATONEM5T DI/ANT4 ,! BORR[]1 TO OBTA9 IMM$IATE POSSESSION1 DISC\NTS ! FUTURE PAYM5T1 & BRAVES ! MULTIPLICATION ( DEBT ?R\< SUBMISSION TO 9T]E/4 ,! LAWS ( HEAL? >E CON/ANTLY DISREG>D$1 BECAUSE ! GRATIFICATION ( ! APPETITE IS PRES5T1 :ILE ! CONSEQU5CES >E REMOTE4 ,H[ GREAT ?IS T5D5CY BECOMES IS %[N 9 ! LAPSES ( PUBLIC MORALS1 9 ! RU9 ( P]SONAL HEAL?1 & 9 ! DISA/]S TO BUS9ESS4 ,I NOTICE !M M]ELY TO %[ ?AT !SE 9/ANCES :I* APPE> TO CONFLICT ) ! DOCTR9E ( UTILITY >E REALLY EXPLA9ABLE BY IT :5 FULLY COMPREH5D$4 ,V,A,L,U,E,S >E ( TWO K9DS-- ,?OSE :I* >E POSITIVE & 9V>IABLE1 9CLUD+ ALL VALUES ( UTILITY2 ,& ?OSE :I* >E SPECULATIVE1 AS 9 EX*ANGE4 ,!RE >E ALSO VALUES :OLLY >TIFICIAL1 >BITR>ILY 0CREAT$ \T ( NO?+1 & LIABLE AT ANY TIME TO BE AS >BITR>ILY DECREAT$ 9TO NO?+10 BY ! M]E FIAT ( ! 9DIVIDUAL WILL1 OR BY ?AT ( A RUL] OR ( A /ATE4 ,!SE >E PHRASES NOT 9V5T$ BY ME1 BUT SAGELY PUT =? BY ! LEAD] ( ! MOD]N ECONOMIC S*OOL1 ,H5RY ,DUNCAN ,MACLEOD4 ,!SE VALUES >ISE :OLLY FROM ! EX]CISE ( 0RI<TS & P[]S10 UND] ! RULE ( DESPOTIC & UNREASON+ WILL1 :E!R AS A PR]OGATIVE ( ABSOLUTISM OR ( DELEGAT$ P[]1 ) PRET5D$ POPUL> SANCTION4 

,ALL 0RI<TS ( PROP]TY10 DI/9CT FROM OCCUPATION OR POSSESSORY RI<T1 >E ( ?IS >TIFICIAL DESCRIPTION1 & !IR COMM]CIAL VALUE IS CREAT$1 NOT BY LABOR OR ?R\< ! WORK+ ( ANY ECONOMICAL PR9CIPLE1 BUT BY ! CU/OMS OR 9/ITUTIONS :I* ABSORB ! SUB/ANTIAL PRODUCTIONS ( 9DU/RY )\T RETURN-- AS A BILL ( SALE TO A SLAVE1 OR A DE$ TO L&4 ,! ,V,A,L,U,E ,( ,U,T,I,L,I,T,Y IS A CON/ANT QUANTITY OR PRO- PORTION4 ,EX43 ,AN >TICLE ( FOOD WILL ALWAYS UND] SIMIL> CONDITIONS GIVE ! SAME LIFE-SU/A9+ RESULT4 ,A TON ( COAL ( SAME QUALITY WILL GIVE UNI=MLY ! SAME AM\NT ( HEAT1 & FURNI% ! SAME AM\NT ( MOTIVE P[]4 ,?IS HAS NO DIRECT RELATION TO ! MONEY PRICE OR TO ! 0LABOR CO/0 ( A ?+4 ,V,A,L,U,E ,9 ,E,X,*,A,N,G,E IS A V>IABLE QUANTITY OR PRO- PORTION4 ,IT IS DET]M9$ PRIM>ILY BY ! AM\NT ( LABOR OR SACRIFICE REQUIR$ 9 ! PROCUREM5T OR 9 ! REPRODUCTION ( A ?+4 ,V,A,L,U,E ,9 ,S,],V,I,C,E MAY BE REG>D$ AS ! MEAN ( EX*ANGE1 S9CE S]VICE RELATES TO SU* EF=T AS IS REQUIR$ TO PRODUCE OR PROCURE ?+S ( USE4 ,! COMP5SATION ( SU* S]VICE IS ! CONSEQU5T AW>D TO ! DO] ( SU* S]VICE1 ! :OLE PRODUCT !RE(4 ,ECONOMIC VALUES >E !N R$UCIBLE TO EXACT RATIOS  

OR PROPORTIONS3 ,TO RATIOS 9 UTILITY1 9 S]VICE1 & 9 EX*ANGE4 ,! FIR/ IS DET]M9$ ) 5TIRE EXACTNESS1 & =MS ! BASIS ( ALL ECONOMIC PROBLEMS4 ,! SECOND IS ALSO DET]M9$ ) EXACTNESS SUFFICI5T = ALL PRACTICAL CALCULATIONS4 ,9 IT IS COMPRIS$ ! DEGREE ( 5]GY EX]T$ 9 ANY S]VICE1 ! L5G? ( TIME ?R\< :I* SU* 5]GY IS EX]T$1 & ! PROPORTIONATE UTILITY ( ! RESULTANT PRODUCT4 ,N- 1 BO? ! TIME & ! UTILITY >E CAPABLE ( MA!MATICAL MEASUREM5T4 ,! DEGREE ( 5]GY IS ! ONLY V>IABLE PROPORTION1 & ?IS IS CAPABLE ( QUITE EXACT E/IMATE4 ,9 ! DIFF]5T TRADES1 PR(ESSIONS1 & CALL+S1 ! AM\NT ( LABOR REQUIR$ TO ACCOMPLI% A SPECIFIC USE IS EV]Y:]E READILY & CONFID5TLY CALCULAT$4 ,WE HAVE1 !N1 9 ! SIMPLE MATT] ( VALUE1 ! KEY TO A SUFFICI5TLY EXACT SY/EM = ! DIVISION & EX*ANGE ( ! PRODUCTS ( ! SOCIAL 9DU/RY4 ,= IT IS OBVI\S ?AT ONLY A DIVISION :I* IS 9 PROPORTION TO S]VICE1 & AN EX*ANGE :I* TRANSF]S EQUIVAL5TS1 CAN CONSI/ ) EI!R MORAL OR ECONOMIC LAW4 ,EX43 ,TWO M51 EX*ANG+ GOLD & R5D]+ UNEQUAL AM\NTS1 W\LD SOON TRANSF] ! :OLE AM\NT :I* ! ONE HELD :O GAVE CON/ANTLY ! L>G] SUM1 9TO ! POSSESSION ( ! O!R1 :ILE ?IS O!R W\LD ALSO RETA9 ALL ( HIS [N4 ,BUT IF TWO EX*ANGE S]VICES OR O!R VALUES UNEQUAL TO EA* O!R1 A SIMIL> RESULT FOLL[S4 ,UNEQUAL PAY = EQUAL S]VICE1 SO CONSPICU\S 9 \R 9DU/RIAL SY/EM1 CAN HAVE NO O!R ISSUE4 ,:5 ! S]VICE ( A 0DIRECTOR ( LABOR10 A BANK]1 RAILROAD K+ OR WRECK]1 A /OCK GAMBL]1 OR MILLIONAIRE1 IS COMP5SAT$1 P] DIEM1 = SU* S]VICE AS HE R5D]S1 AT A RATE EQUAL TO ?AT PAID ONE ?\S& M5 = PRODUCTIVE LABOR1 IT IS PLA9 ?AT A L>GE %>E ( !IR PRODUCTION MU/ HAVE BE5 TAK5 TO EFFECT IT4 ,A SCI5CE ( EX*ANGES :I* M]ELY TAKES NOTE ( :AT OCCURS UND] DECEPTIVE TRADE1 & ! UNJU/ OP]ATION ( CRUDE CLASS LEGISLATION1 HAS AS LITTLE CLAIM TO S]I\S ATT5TION AS W\LD A SCI5CE ( *EMI/RY1 :I* M]ELY S\<T TO FOI/ UPON PUBLIC @& ! NOTION ?AT ! :OLESALE ADULT]ATIONS ( DRUGS & GOODS W]E 9 ACCORDANCE ) ! LAW ( 0COMB9+ PROPORTION40 ,! RATIO ( EX*ANGE FLUCTUATES FROM A MEAN1 ! LABOR CO/ ( PRODUCTION1 TO EI!R EXTREME FROM SEV]AL CAUSES3 ,9EQUALITY ( PRODUCTION FROM SAME APPLICATION ( LABOR2 EXCESS ( LABOR APPLI$ TO SPECIFIC 9DU/RIES2 *ANG+ FA%IONS & CU/OMS4 ,!RE >E ALSO >TIFICIAL FLUCTUATIONS QUITE 9DEP5D5T ( NATURAL CAUSES4 ,MANIPULATION ( M>KET IS ONE MEANS ( DEPRESS+ OR RAIS+ PRICES4 ,SPECIAL LEGISLATION IS L>GELY RESORT$ TO TO EFFECT *ANGE1 & TO %IELD 9T]E/$ P>TIES FROM ! OP]ATION ( SUPPLY & DEM&1 :ILE SUBJECT+ ! PRODUC]S TO ALL ! 9JU/ICE & BURD5 ( A COMPULSORY COMPETITION4 ,:AT WORKS GREAT EXTREMES1 ESPECIALLY 9 ! PRICE ( COMMODITIES 9CAPABLE ( L>GE PRODUCTION1 IS ! V]Y 9EQUALITY ( MEANS EFFECT$ BY UNEQUAL COMP5SATION4 ,! MAN :O E>NS ONE DOLL> P] DAY /&S NO *ANCE 9 BIDD+ = A DESIRABLE OBJECT AGA9/ ONE :OSE 9COME AM\NTS TO HUNDR$S OR ?\S&S4 ,SU* 9EQUALITY 5ABLES C]TA9 EMPLOYM5TS TO COMM& HI<] REMUN]ATION1 )\T REF]5CE TO !IR UTILITY1 & ?US DIFF]5CE ( COMP5SATION PROCE$S FROM ! SIMPLE/ S]VICEABLE EMPLOYM5T1 USUALLY REW>D$ ! POORE/1 UP ?R\< EV]Y GRADE ( REAL S]VICE TO SU* AS IS PR$ATORY & DE/RUCTIVE1 & TO :I* \R SEMI-SAVAGE SY/EM GIVES ! HI<E/ AW>D ( ALL4 ,?IS IS B>B>ISM1 NOT CIVILIZATION4 ,?IS IS BRUTAL1 NOT HUMAN4 ,IT IS ! PIRACY & PLUND] ( TRADE1 NOT ! DEVELOPM5T ( EQUITABLE COMM]CE40 ,ANY TOL]ABLE ANALYSIS EXPOSES ITS CRUDE ABSURDITIES1 & ANY EF=T TO G5]ALIZE IT IS ONLY AN ATTEMPT TO SYN!SIZE DI%ONE/Y OR NESCI5CE4 ,! ONLY V>IABLE VALUE IS VALUE 9 EX*ANGE1 & ?IS IS F\ND TO DEP5D UPON ! DESIRES1 RATIONAL OR O!RWISE1 ( ! EX*ANG]S4 ,BUT !SE E/IMATES >E CONTROLL$ & GOV]N$ MA9LY BY ! UTILITY :I* IS EMBRAC$ 9 ! ?+ DESIR$1 & 9 ! EXP5DITURE ( 5]GY 9 !IR PRODUCTION4 ,! UTILITY & ! TIME ?R\< :I* ! REQUISITE 5]GY IS EX]T$ >E SUBJECTS ( EXACT CALCULATION4 

,>,T,I,F,I,C,I,A,L ,V,A,L,U,E,S4 

,!SE HAVE NO PROPORTION OR RELATION TO 0VALUES 9 S]VICE40 ,!Y DEP5D :OLLY UPON >BITR>Y WILL1 ILL-ADJU/$ CU/OM1 & CLASS LEGISLATION4 ,TO 

0,! LAW DOES NOT COMPEL A SELL] TO DISCLOSE ALL ?AT HE KN[S2 IF IT DID1 IT W\LD SAP ! F\NDATION ( TRADE0 7,JUDGE ,DEM+1 ( ,CONNECTICUT1 9 HIS DECISION AGA9/ A BUY] :O HAD PUR*AS$ GOODS1 UND] A COMPLETE MISAPPREH5SION1 & :I* ! SELL] KNEW BUT DID NOT CORRECT UNTIL AFT] SALE74 ,EVID5TLY ! JUDGE WAS ?9K+ ( 0TRADE = PR(IT10 NOT RECIPROCAL EX*ANGE4 

ASSOCIATE !SE 9 ANY WAY ) ! DIVISION OR EX*ANGES ( LABOR PRODUCTS CAN ONLY RESULT 9 SUBV]T+ & DE/ROY+ ! VALUES :I* LABOR CREATES4 

,! MAN :O IS /RONG] OR MORE CUNN+ ?AN ANO!R MAY SUBJECT ?AT O!R TO HIS WILL1 &1 )\T ! 9T]F]5CE ( HIS FELL[S1 MAY MAKE HIM A ?+ & *ATTEL4 ,! RI<T TO COMM& HIS LABOR WILL !N BECOME VALUABLE1 & CAN BE EX*ANG$ ) O!RS :O HAVE ! DESIRE TO LIVE BY SLAVE LABOR1 AS LONG AS SU* TRANSACTIONS >E PROTECT$ BY LAW4 ,BUT ?IS RI<T TO LABOR 9VOLVES ! RI<T TO ! CONTROL ( ! P]SON1 & POT5TIALLY TO HIS LIFE4 ,N[1 ! IMPOSSIBILITY ( CLASS+ SU* VALUES ) VALUES ( S]VICE 9 EX*ANGE NE$S NO %[+4 

,EXCLUSIVE [N]%IP ( ! L&1 ( ! =CES ( NATURE1 & ( OPPORTUNITY TO LABOR1 GIVES A SIMIL> RESULT1 & BECOMES1 AS ,JOHN ,C4 ,CALH\N %[$1 A M]E QUE/ION AS TO :E!R ! OP]ATIVES :O PRODUCE WEAL? %ALL BE B\<T & SOLD1 & SO BECOME PROP]TY1 OR BECOME HIREL+S & ! RESULT ( !IR LABOR ONLY BECOME PROP]TY4 

,9COMES FROM ! ONE SY/EM >E NO MORE 9 VIOLATION ( ! LAWS ( EQUITY & ECONOMY ?AN FROM ! O!R4 ,& ! VALUES SO CREAT$ >E :OLLY DIFF]5T FROM ANY :I* 9VOLVE LABOR COMP5SATION4 ,IT IS FROM !SE S\RCES ?AT 9CREASE )\T S]VICE SPR+S4 ,= ! P[] TO ABSORB 9CREASE NECESS>ILY 9VOLVES ! CONTROL BO? ( ! L& & ( ! LABOR ( A C\NTRY4 ,! [N]%IP ( ! LABOR] MADE POSSIBLE & NECESS>Y ! CONTROL ( ! L&1 & ! CONTROL ( ! L& COMPELS ! ACQUIESC5CE ( ! LABOR] ) ANY T]MS (F]$ :I* PROLONG EXI/5CE4 

,IT IS PLA9 ?AT ! VALUE ( SU* PRIVATE RI<T TO EXCLUDE LABOR FROM ! L&1 & TO TAX OR APPROPRIATE ! E>N+S ( ! SOCIAL 9DU/RY1 MU/ DEP5D UPON ! 9CREASE IT WILL ?US BE 5ABL$ TO REALIZE4 ,TRUE ECONOMIC VALUE IS ?AT :I* RELATES TO ! UTILITIES PRODUC$ BY LABOR1 & :I* YIELDS SATISFACTION TO DESIRE 9 APPROPRIATION & CONSUMPTION4 ,>TIFICIAL OR SPECULATIVE VALUES REF] ALONE TO ! ABILITY ( ANY PROP]TY OR RI<T TO D]IVE 9COME )\T WORK4 ,!SE VALUES HAVE NO REF]5CE TO ! 9TR9SIC *>ACT] ( ! ?+1 OR TO ITS ABILITY TO YIELD SATISFACTION 9 CONSUMPTION2 BUT SIMPLY DEP5D UPON A CALCULATION ( 0! PRES5T VALUE ( A S]IES ( PRODUCTS =EV]0 7,MACLEOD74 ,9 O!R WORDS1 UPON ! SUM :I*1 AT 9T]E/ AT CURR5T RATES1 WILL YIELD ! SPECIFIC 9COME D]IV$ FROM PRODUCTIVE LABOR = TIME 9DEF9ITE4 

,TO SU* VALUES !RE IS NO LOGICAL EXPLANATION BUT ! RULE ( UNREASON+ WILL1 & NO LIMIT )9 ! ABILITY ( LABOR TO PRODUCE ! 9COME4 ,VALUES ( ?IS DESCRIPTION >E NOT M]E EXAGG]ATIONS2 !Y >E1 AS ,MACLEOD SAYS1 0CREAT$ \T ( NO?+40 ,!Y >E NOT M]E 0WAT]$ /OCK10 BUT >E /OCK COMPOS$ :OLLY ( WAT]4 ,= 9 ?IS CLASS ( VALUES IT IS NOT ! PR9CIPAL :I* BEGETS ! 9T]E/1 BUT ! 9T]E/ :I* CREATES ! PR9CIPAL2 NOT ! VALUE :I* E>NS ! 9COME1 BUT ! 9COME :I* BEGETS ! VALUE4 ,& ?IS 9COME OR 9T]E/ IS NOT ! REW>D ( ANY 9DU/RY OR ! \TGR[? ( ANY?+ :I* CAN HAVE RELATION TO MANLY S]VICE OR MUTUAL B5EFIT2 BUT IS M]ELY ! FRUIT ( A USURP$ RI<T TO DEM& FROM ! L& & FROM ! LABOR A L>GE %>E ( !IR ANNUAL PRODUCTION1 )\T ANY RETURN :ATEV]4 ,= ALL MONEY VALUES PLAC$ UPON ! L& >E FICTITI\S1 & YET 9 CONSEQU5CE ( ! CONTROL :I* EXCLUSIVE [N]%IP GIVES OV] LABOR1 SU* VALUES N[ QUITE EQUAL ! ECONOMIC VALUES ( ! 5TIRE WEAL? ( ?IS C\NTRY4 ,\R O!R DEVICES ( DEBTS1 %>ES1 BONDS1 ETC41 EQUAL AGA9 ! SAME AM\NT2 SO ?AT DEAL+ 9 !SE >TIFICIAL VALUES CON/ITUTES1 AS ,MACLEOD SAYS1 0! MO/ COLOSSAL COMM]CE ( MOD]N TIMES40 ,H5CE LABOR IS PAY+ TRIBUTE1 NOT UPON ! USE ( ANY REAL WEAL?1 BUT UPON TWICE ITS 5TIRE AM\NT ( >TIFICIAL VALUES4 ,H[ MU* F>!R CAN ?IS 0SCI5CE ( WEAL?0 EXT5D 8 ,A BREA? CAN & WILL UNMAKE ?IS COLOSSAL COMM]CE1 0AS A BREA? HAS MADE10 :5EV] LABOR BECOMES 5LI<T5$ & LE>NS TO REASON1 OR ! PUBLIC CONSCI5CE %ALL REQUIRE ! ABROGATION ( ?IS SUBTLE =M ( 9VOLUNT>Y S]VITUDE4 

,*,A,P,T,] ,V,I,I,I4 

,! ,L,A,W ,( ,U,S,E4 

,! S+LE GR\ND ON :I* IT IS CONT5D$ ?AT AN EQUITABLE EX*ANGE CAN BECOME 9VOLV$ 9 R5T1 9T]E/1 OR PR(IT1 IS ?AT 0A USE0 IS P>T$ ) BY ! L&LORD1 USUR]1 OR PR(IT-MONG]4 ,N[1 USES >E IMPOSSIBLE TO BE P>T$ ) OR TO BE EX*ANG$ ) LABOR1 OR ) ANY PRODUCT ( LABOR1 S9CE !Y CO/ NO LABOR1 BUT >E ! FRUITS ( ! OP]ATION ( NATURAL =CES & OPPORTUNITIES UPON NATURAL OBJECTS4 ,EV5 IF IT W]E ADMITT$ ?AT !Y C\LD BE RECIPROCALLY 5JOY$1 IT W\LD /ILL BE IMPOSSIBLE ?AT ONE MAN %\LD BE ABLE TO COMP5SATE ANO!R'S LABOR1 & SO BE JU/IFI$ 9 CONSUM+ ITS PRODUCT BY PRET5SE ( YIELD+ ! USE ( SOME MAT]IAL EXI/+ 9 NATURE1 OR ( SOME ELEM5TAL =CE4 ,NO LOGICAL CONNECTION CAN BE %[N BETWE5 MY TAK+ ! FI% FROM ! FI%]MAN :O HAD TAK5 !M FROM ! SEA1 & ! PAY+ HIM 9 ! PRIVILEGE ( US+ ! W9D & TIDE 9 ! FUR!RANCE ( HIS PURSUIT4 

,! P]SON :O USES NATURE'S WEAL? & NATURE'S =CES 5JOYS !M4 ,! 5JOYM5T HE CANNOT TRANSF] ! USE (1 NOR DO ! DUTY BY PROXY4 ,NOR CAN HE MORE ?AN SUPPLY HIS P]SONAL WANTS FROM SU* S\RCE1 )\T ADD+ TO ! /ORE ( SOCIAL WEAL?1 :I* WILL B5EFIT ALL :O HAVE DEAL+S 9 ! CIRCLE TO :I* IT APPLIES4 ,HE :O BREA!S ! AIR1 APPROPRIATES ! CAPTUR$ OXYG54 ,:O DR9KS FROM ! SPR+1 MOI/5S HIS [N LIPS & DILUTES HIS [N BLOOD4 ,TO SELL OR EX*ANGE SU* USE IS NOT ONLY UNJU/1 BUT 9POSSIBLE1 & ! PRET5SE IS TOO PALPABLE = /ATEM5T4 ,& ! SALE ( ! USE ( L& OR ( ANY =CE ( NATURE HAS NO BETT] BASIS4 ,IT IS R5D]$ POSSIBLE ONLY BY >BITR>Y LAWS ( [N]%IP1 :I* P]V]T ! P[] ( CIVIL GOV]NM5T SO AS TO EXCLUDE ! MANY FROM ! 5JOYM5T ( NATURAL PRIVILEGE1 TILL TRIBUTE IS R5D]$ = ITS EX]CISE TO ! PRET5D$ [N]4 ,& IT IS FROM ?IS BASE ?AT MONOPOLIZ$ CONTROL ( ALL ?+S PRODUC$ BY LABOR >ISES4 ,EXCLUSIVE [N]%IP ( ! L& C>RIES ) IT DOM9ION OV] LABOR1 OV] PRODUCTION & EX*ANGE1 & OV] ALL HUMAN RI<TS & 9T]E/S :ATEV]4 ,BUT MAY NOT ! HOLD] BE PROTECT$ 9 ! IMPROVEM5TS HE MAY MAKE UPON HIS L&1 & 9 ! FRUITS HIS LABOR MAY HAVE EFFECT$8 ,UND\BT$LY4 ,!IR USE BELONGS TO HIM4 ,BUT ! USE ( A ?+ AS G5]ALLY UND]/OOD DOES NOT EMBRACE ! RI<T TO CONSUME IT )\T REPLAC+ IT4 ,TO PAY ! PROP] VALUE ( A ?+ IS NOT PAY+ = A USE1 = ! USE IS ADDITIONAL TO ITS ASC]TA9$ VALUE4 ,IF ,I TAKE A PLACE ( A MAN VALU$ AT @s#a11 & AT ! 5D ( A YE> RETURN IT TO HIM AT AN EQUAL VALUATION1 :ATEV] ,I PAY = USE IS 9 ADDITION TO :AT ,I HAVE CONTRIBUT$ TO REPLACE CONSUM$ VALUES4 ,?IS PAYM5T = USE IS NOT = ANY?+ ,I HAVE CONSUM$1 NOR = ANY?+ HE HAS PRODUC$2 BUT :OLLY = ! PRIVILEGE ( BE+ 9 POSSESSION = A C]TA9 P]IOD4 ,! USE MAY OR MAY NOT HAVE BE5 ADVANTAGE\S2 BUT IT WAS ,I1 NOT HE1 :O DID ! USE1 & TO :OM IT BELONGS4 ,IF IT HAD BE5 A ?\S& GOLD DOLL>S HE HAD ALL[$ ME TO KEEP1 & ,I HAD PLAC$ !M 9 MY SAFE1 RETURN+ !M AT ! 5D ( ! YE>1 BY :AT AL*EMY C\LD ,I HAVE ADD$ SIXTY DOLL>S TO ! PILE8 ,IF RISK OR WE> HAD BE5 9VOLV$ 9 MY USE1 IT W\LD BE PROP] ,I %\LD BE> :ATEV] EXP5SE >OSE2 & !RE ALL EQUITY & SOCIAL RECOGNITION ( ! MATT] 5DS4 ,ECONOMICALLY ! SAME IS TRUE4 ,! USE ( NATURAL OBJECTS & =CES >E NECESS>ILY SOCIAL4 ,AFT] ! M9] HAS DUG ! COALS NECESS>Y = HIS [N CONSUMPTION1 HIS P]SONAL USE ( ! M9E 5DS4 ,HE CAN ONLY USE IT F>!R = ! SOCIAL GOOD4 ,IF HE BE ALL[$1 H[EV]1 TO EXCLUDE ALL O!RS FROM DO+ :AT HE HAS DONE1 HE CAN REQUIRE PAYM5T = USE1 OR R5T1 NOT O!RWISE4 ,IT IS ! SAME ) ALL =MS ( USANCE4 ,IT IS ! PAYM5T = ! PRIVILEGE ( ACCESS TO NATURAL PRODUCTIONS & = ! USE ( ! =CES 9 NATURE4 ,ONLY USURP$ DOM9ION ( !SE CAN BEGET OR MA9TA9 A CLAIM TO EX*ANGE !M = ! TOILSOME PRODUCTIONS CREAT$ BY LABOR4 ,?IS FRAUDUL5T CLAIM LIES NOT SO MU* AGA9/ ! 9DIVIDUAL :O IMM$IATELY PAYS ! TRIBUTE1 S9CE HE MAY (T5 REPAY HIMSELF BY A CORRESPOND+ OV]*>GE1 AS AGA9/ ! :OLE ( SOCIETY1 :O F9D EV]Y COMMODITY TAX$ ) ! EXACTION & DIFFICULTIES 9T]POS$ 9 ! SATISFACTION ( EV]Y DESIRE4 ,EV]Y AV5UE ( TRADE & EX*ANGE BECOMES VITIAT$1 & A DESP]ATE /RUGGLE >ISES1 9 :I* EV]Y S5SE ( TRU? & HONE/Y IS SACRIFIC$1 9 ORD] TO ESCAPE ! PAYM5T ( ?IS UNNATURAL IMPOSITION2 IT FALL+ 

- @9 

AT LA/ UPON ! WEAKE/ & P]HAPS MO/ 9DU/RI\S PORTION ( SOCIETY4 ,CONTRIBUT+ TO ! SUCCESS ( ?IS IMPOSITION IS ALSO ?AT %ORTSI<T$NESS ( ! IGNORANT & IMPROVID5T1 :O *OOSE ! IMM$IATE GRATIFICATION ( DESIRE1 & /UPIDLY SACRIFICE ! MORE P]MAN5T BUT DI/ANT SATISFACTION2 AS ! MORE /UPID ( ANIMALS CONSUME 9 ! PRES5T EV]Y *OICE ?+1 & LEAVE ! FUTURE )\T PROVISION4 ,IT IS NO P>T ( A TRUE ECONOMIC SY/EM TO 5C\RAGE OR FAIL TO PO9T \T ! DANG]\S & DECEPTIVE *>ACT] ( SU* E/IMATES4 ,PROHIBITORY LAWS1 OR ! UTT]ANCE ( MORAL PLATITUDES1 >E UNCALL$ = H]E4 ,IT IS M]ELY NECESS>Y TO PO9T \T ! ECONOMIC BE>+ ( ! PR9CIPLE1 & TO REPEAL ALL LEGISLATIVE SANCTION TO CU/OMS SO DE/RUCTIVE ( SOCIAL RI<T4 ,9 A TRULY NORMAL CONDITION ( SOCIAL 9DU/RY1 9 A COMMUNITY ( PASSABLE 9TELLIG5CE1 ! DESIRE = IMM$IATE SATISFACTION W\LD BE MODIFI$ BY ! MORE P]MAN5T GOOD ATTA9$ BY AB/95CE & PROLONG$ EF=T4 ,! LOVE ( ACCUMULATION1 & DESIRE TO PROVIDE = P]IODS UNPRODUCTIVE1 & = (FSPR+1 W\LD CORRECT ! SP5D?RIFT & VAGRANT T5D5CY BEGOTT5 ( ! UNGOV]N$ 9DULG5CE1 :I* UNE>N$ WEAL? MAKES POSSIBLE & POPUL>4 ,! NECESSITY TO CONS]VE DECAY+ PRODUCTIONS & DEPRECIAT+ VALUES1 W\LD ALWAYS CREATE DEM& = LABOR DEP5D+ ON MORE IMM$IATE COMP5SATION1 SO ?AT IF ! ACCUMULAT$ WEAL? %\LD BE 9 GREAT] DEM& AT ANY P>TICUL> P]IOD1 IT W\LD BE SO 9CREAS$ AS TO PRODUCE EXCESS2 & IF AT TIMES IT W\LD BE ABLE TO COMM& A PREMIUM OV] ! PRODUCTIONS ( CURR5T LABOR1 IT W\LD AT O!RS BE COMPELL$ TO PAY A PREMIUM TO HAVE ITS VALUES CONS]V$1 SO ?AT ! 9T]E/ RATE W\LD AS (T5 BECOME A M9US AS A PLUS RATIO4 ,BUT ! NECESSITY TO BORR[ OR HIRE ! USE ( L&1 & TO PAY TRIBUTE = ! OPPORTUNITY TO LABOR1 BEGETT+ 9 FACT ! MA9 NECESSITY TO BORR[ FUNDS OR GOODS ( ANY K9D1 PRECLUDES ! LAW ( USE FROM ANY NATURAL PLAY2 SO ?AT ! LABOR] HAS ALWAYS TO PAY = !IR USE 9 ADDITION TO PAY+ = !IR CONSUMPTION4 ,! MEAN RATE ( 9T]E/ W\LD BE Z]O1 BY ! V]Y LAW ( SUPPLY & DEM&1 W]E IT NOT = ! EXCLUSION ( LABOR FROM ! L& & NATURAL =CES1 & = V>I\S %REWD CLASS DEVICES 9 REG>D TO F9ANCE & LEGAL T5D] MADE 9 ! 9T]E/ ( USUR]S1 BANK]S1 ETC4 ,NO LOGICAL APPLICATION ( ! LAW ( SUPPLY & DEM& CAN BE MADE ( ! SUBJECT )\T 9VOLV+ ?IS RESULT1 S9CE ! PR9CIPLE IS BAS$ UPON ! FACT ?AT 9CREAS$ DEM& BEGETS 9CREAS$ SUPPLY4 ,IT IS ONLY1 !RE=E1 ?R\< 9T]F]5CE ) ?IS PR9CIPLE & ! FREE COMPETITION UND] IT1 ?AT A *>GE IS MA9TA9$ = USE1 & ?AT IT COMES TO HAVE A PLACE 9 \R CORRUPT$ SY/EM ( EX*ANGE4 ,! ADVANTAGES ( PLANT1 SE$1 Y\NG ANIMALS1 OR ANY O!R =M ( WEAL? :]E9 ! ABILITY TO GR[ & MULTIPLY IS EMBRAC$1 :]E FRE$OM ( ACCESS TO NATURAL SUB/ANCES & =CES1 & FRE$OM ( EX*ANGE PREVAIL$1 W\LD BE QUITE EQUAL$ BY O!R & ORD9>Y RESULTS ( LABOR2 S9CE ALL W\LD BE FREE TO RAISE & PRES]VE SE$ CORN1 Y\NG /OCK1 OR NEW W9E1 IF ?AT PAID BETT] ?AN TO SELL = ACTUAL CONSUMPTION4 ,! FACT ?AT UPON ! SE$ MI<T DEP5D SOMETIMES ! QUE/ION ( PL5TY OR FAM9E1 W\LD NOT GIVE A MONOPOLY TO ! SE$ RAIS]1 OR ANY P]MAN5T SUP]IORITY4 ,& ! SAME IS TRUE ) REG>D TO ! PRODUC] ( Y\NG /OCK1 ! MAK] ( TOOLS1 MA*9ES1 ETC4 ,& IT W\LD PROVE EQUALLY TRUE ( WEAL? 9 EV]Y =M1 :E!R RES]V$ OR PUT 9TO ! CIRCULATIONS ( COMM]CE4 ,ONLY A MONOPOLY :I* PREV5T$ A FREE SUPPLY C\LD = ANY L5G? ( TIME COMM& TRIBUTE = ! USE ( L&1 MONEY1 PLANT1 OR COMMODITIES4 

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,S9CE ! MATT] = ! PR9CIPAL *APT]S WAS S5T TO ! PR9T]1 ! SECOND VOLUME ( ,MACLEOD'S 0,ELEM5TS ( ,ECONOMICS0 HAS MADE ITS APPE>ANCE4 ,MA9LY IT BUT ELABORATES ! POSITIONS TAK5 9 HIS FIR/ VOLUME1 ?AT ALL PROP]TY CONSI/S ( RI<TS1 NOT ?+S--RI<TS TO MAT]IAL ?+S1 RI<TS TO ONE'S LABOR1 & RI<TS TO ! FUTURE PR(IT OR PRODUCTION FROM ANY UND]TAK+ OR E/ATE4 ,& S9CE EVID5CES ( DEBT CAN BE 9DEF9ITELY MULTIPLI$1 & B\<T & SOLD1 HE MAKES !M NOT M]ELY A REPRES5TATIVE ( WEAL? EXI/+ 9 MAT]IAL =M1 BUT A DI/9CT ADDITION TO IT4 

,N[1 AS ! MONEY VALUE ( SU* PROP]TY DEP5DS :OLLY UPON SU* 0RI<T ( ACTION10 & PROP]TY ( ALL K9DS UPON SOME CIVIL RI<T1 IT BECOMES QUITE PLA9 ?AT 0PURE ECONOMICS10 AS HE HAS DEF9$ ! SCI5CE1 GIVES NO 9SI<T 9TO ANY QUE/ION ( SOCIAL1 POLITICAL1 OR CIVIL ADM9I/RATION4 ,= HE DRAWS NO DI/9CTION BETWE5 LEGAL RI<TS & NATURAL RI<TS2 BETWE5 ! 0RULE ( REASON0 & BL9D CU/OM1 ! >BITR>Y WILL ( A HUMAN POT5TATE1 OR ! PUR*ASABLE FRAN*ISE ( A CORRUPT LEGISLATOR4 

,=1 AL?\< UND] A TOL]ABLE CIVIL SY/EM ! RI<T TO ONE'S LABOR1 = 9/ANCE1 W\LD 9H]E 9 ONE'S SELF1 UND] A MORE CRUDE OR B>B>IC ONE SU* RI<T W\LD 9H]E 9 ! MA/] OR SLAVE-LORD1 OR YET 9 ! EMPLOY] OR L&LORD4 ,UND] ! 0RULE ( ! M>KET10 H[EV]1 SU* DI/9CTIONS HAVE NO SIGNIFICANCE4 ,REALLY ,MACLEOD BASES HIS SCI5CE ( WEAL? UPON RI<TS SOLELY1 & YET RELEGATES ALL QUE/IONS ( RI<TS FROM \T ! SCI5CE4 ,HE ACCEPTS ALL RI<TS1 EX]CIS$ BY :ATEV] DESPOTIC P[]1 AS ( ! SAME NATURAL =CE & VALIDITY4 ,:AT K9D ( A SCI5TIFIC QUANTITY ! WILL ( AN AUTOCRAT1 OR ! VOTE ( A B\<T LEGISLATOR1 IS1 HE WISELY ATTEMPTS NO EXPLANATION4 ,HIS UTT] EXCLUSION ( ALL QUE/IONS ( NATURAL RI<T1 ( ALL SUGGE/IONS ( EQUITY OR HONE/Y 9 EX*ANGE1 EMPHASIZE ! VALUE ( HIS SY/EM 9 ANY ATTEMPT TO EXPLA9 SOCIAL & 9DU/RIAL PH5OM5A-- PH5OM5A :I* CAN HAVE NO EXI/5CE :]E GOOD FAI? & RECIPROCITY 9 DEAL+ >E WANT+4 ,& YET1 LIMIT$ TO ! M]E QUE/ION ( ! CAUSE ( ! MONEY VALUE ( ?+S OR RI<TS 9 ! M>KETS AS !Y >E1 & UND] EXI/+ CIVIL 9EQUITIES1 HE LOGICALLY & CONSI/5TLY REASONS \T SEV]AL WIDE DEP>TURES FROM ! ELD] S*OOL ( ECONOMI/S4 ,NOTABLY1 HE DEMOLI%ES !IR 0WAGES FUND0 !ORY1 %[+ CONCLUSIVELY ?AT WAGES ( LABOR >E PAID FROM ! PRODUCTION ( LABOR1 ! SELL+ ( ! LABOR BE+ A SIMPLE EX*ANGE4 ,ALSO1 AS TO ! R5T !ORY1 HE OCCUPIES ! SAME GR\ND AS ! PRES5T WRIT]1 & REG>DS ,RIC>DO AS HAV+ UNI=MLY 9V]T$ CAUSE & EFFECT4 ,! R5T ( L& HE MAKES ! 9T]E/ M]ELY1 OR ANNUAL PR(IT ON ! PUR*ASE PRICE1 & :I* UND] COM 

M]CIAL [N]%IP ( ! L& IT TRULY IS4 ,! RI<T ( ! HOLD] ( ANY L& TO ITS 0FUTURE PRODUCTS =EV]0--:I* IS NOT ONLY AN >TIFICIAL RI<T1 BUT :OLLY AN IMPI\S LEGAL FICTION1 & OP]ATIVE ?R\< >BITR>Y =CE ALONE--HE ASSUMES AS A SCI5TIFIC FACT1 )\T ANY ATTEMPT TO EXPLA9 OR JU/IFY IT1 OR EF=T TO %[ ?AT !RE IS1 OR C\LD BE 9 ! ABS5CE ( >BITR>Y LEGALITY1 ANY FUTURE PRODUCTS NOT ! NATURAL WAGES ( ! LABOR EFFECT+ !M4 ,= !RE IS #a#aO?+ 9 ALL HE HAS %[N OR CAN %[ :I* PROVES ?AT L& HAS ANY PRODUCT BEYOND :AT NATURE AW>DS TO ! WORK]4 ,SU* APP>5T PRODUCT1 9T]E/1 OR PR(IT IS ! CREATURE ( CLASS LAW1 OR ( CROOK$ DEAL+1 AS ,I ?9K ,I HAVE ABUNDANTLY PROV$4 0,A RI<T TO FUTURE PRODUCTS0 ( ! L&1 OR ( ANY PR(IT-BE>+ PROP]TY1 IS BALDLY A RI<T TO ! RESULTS ( FUTURE 9DU/RY1 & DIFF]S 9 NO ESS5TIAL P>TICUL> FROM A RI<T TO ! P]SON ( ! LABOR]4 ,! 0UNILAT]AL CONTRACT10 AS HE V]Y PROP]LY DES 

IGNATES IT1 :]E 0ON ONE SIDE !RE IS SIMPLY ! 

RI<T TO COLLECT R5T1 & ON ! O!R SIMPLY ! DUTY TO PAY R5T10 HAS NO LESS POT5CY OV] ! 

LABOR] ?AN :]E1 UND] *ATTELISM1 !RE IS 0ON ONE SIDE SIMPLY ! RI<T TO EXACT S]VICE1 & ON ! TO O!R SIMPLY ! DUTY TO R5D] S]VICE40 ,! 

READ] WILL OBS]VE ?AT 9 EA* CASE ! RI<TS >E ALL ON ONE SIDE1 :ILE ! DUTIES >E ALL UPON ! O!R4 ,EX*ANGE UND] SU* RELATIONS CAN HAVE NO MEAN+1 AS RI<TS >E NOT EX*ANGEABLE ) DUTIES1 & NO EQUATION CAN BE MADE BETWE5 A PLUS & A M9US QUANTITY4 ,HE IS SIMPLY CONSI/5T ) HIMSELF 9 SUPPOS+ ?AT ONE'S [N DEBTS CAN BE C\NT$ 

TO HIM AS WEAL?2 ! SURPRIS+ ?+ IS ?AT ANYONE PR(ESS+ TO TEA* A SCI5CE %\LD CONF\ND PH5OM5A OCCURR+ UND] SU* =C$ & UNNATURAL CONDITIONS ) ANY NATURAL 0FRE$OM ( CONTRACT10 OR DESIGNATE SU* =CIBLE TAK+ UPON ! ,ONE SIDE1 & SU* =C$ YIELD+ UPON ! O!R1 AN EX*ANGE AT ALL1 TO SAY NO?+ AS TO ITS EQUITY OR JU/ICE4 - ,IT IS NOT /RANGE ?AT1 SEEK+ TO IMPOSE UPON ! ,WORLD ! IDEA ?AT SLAVE LAWS1 L& LAWS1 & CLASS LEGISLATION G5]ALLY CONF] NATURAL RI<TS & CREATE NATURAL DUTIES1 FROM :I* EX*ANGEABLE QUANTITIES >E PRODUC$1 HE %\LD BE ABLE 0TO (F] NO?+ HOPEFUL TO WAGE-WORK]S1 BUT ADMONI% !M TO KEEP D[N !IR NUMB]S40 ,EV5 SO QUE/IONABLE A SUGGE/ION AS ?IS--VIRTUALLY TO R$UCE ONE ( ! PRIME FACTORS 9 PRODUCTION 9 ,ORD] TO ALLEVIATE WANT--MI<T POSSIBLY HAVE A SALUT>Y EFFECT UND] \R 9V]T$ SY/EM ( DIVISION W]E IT NOT ?AT ! T5D5CY ( COMM]CIAL MONOPOLY ( ! L& IS TO GRADUALLY R$UCE ! SELF-EMPLOY+ CLASS TO ! DEP5D5T CONDITION ( WAGE-SEEK]S4 ,NO *ECK1 !RE=E1 EV5 IF PRACTICABLE1 AMONG ! TLASS :O N[ WORK = WAGES C\LD LESS5 ! CON/ANT RE9=CEM5T ( !IR NUMB]S FROM ?OSE MORE 9DEP5D5T :O >E BE+ CON/ANTLY =C$ TO ?AT LEVEL BY ! 5GROSSM5T 9 FEW H&S ( ! LAT]IAL S\RCE ( ALL PRODUCTION1 ! L&4 

0,NO:]E >E ! 9T5TIONS ( M5 SO (T5 & SO UTT]LY FRU/RAT$ AS 9 LEGISLATION4 "9 "9 "9 ,LAWS 9T5D$ TO LIMIT ! P[] ( CORPORATIONS 5D ) PUTT+ BRIBES 9TO ! POCKETS ( ! LEAD]S ( ! LEGISLATORS1 OR ( ! JUDGES4 "9 "9 "9 ,LAWS 9T5D$ TO PREV5T GAMBL+ ONLY DRIVE GAMBL+ 9TO COMM]CE0 ,PR(4 7,R4 ,J4 ,WRI<T3 ,PR9CIPIA ( ,SOCIAL ,SCI5CE74 

0,! MO/ DANG]\S CLASS 9 ANY SOCIETY >E ?OSE :O MAKE 

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0,! SY/EM 7( NATURAL GOV]NM5T7 PREVAIL$ AMONG ! ,9DIANS :OSE VILLAGES DOTT$ ! ,G5ESEE ,VALLEY 9 MY Y\?4 "9 "9 "9 ,YET ,I NEV] SAW AN UNCIVIL WORD OR GE/URE US$ AMONG ! ,S5ECAS T[>D ONE ANO!R2 NEV] HE>D ( !IR /EAL+ OR TAK+ LIB]TIES ) EA* O!R'S GOODS4 "9 "9 "9 ,! O!R OR >TIFICIAL PR9CIPLE IS P[]FULLY ILLU/RAT$ 9 ! PRES5T GOV]NM5T ( ,5GL&1 :I* CO/S ITS SUBJECTS ?REE TIMES AS MU*1 EXCLUSIVE ( LOCAL RATES & TAXES1 AS ALL ! AGRICULTURAL LABOR]S4 ( ,5GL& & ,WALES RECEIVE = !IR LABOR0 7,J4 ,H4 ,HUNT3 ,HONE/ ,MAN'S ,BOOK74 

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,:E!R ! 9FLU5CE ( MORE LIB]AL =MS ( GOV]NM5T1 ( IMPROV$ MA*9]Y1 & NEW ME?ODS ( TRADE HAS BE5 TO RELATIVELY IMPROVE ! CONDITION ( LABOR1 IS NOT ( ESS5TIAL IMPORTANCE4 ,! QUE/ION HAS BE5 ABLY DICUSS$ PRO & CON BY ,MR4 ,MALLOCK1 AFFIRMATIVELY1 & BY ,MESSRS4 ,GEORGE1 ,HYNDMAN1 & O!RS1 NEGATIVELY4 ,IT IS UNQUE/ION$ ?AT NO PROPORTIONATE ADVANCEM5T HAS BE5 MADE 9 ! CONDITION ( LABOR1 CORRESPOND+ TO ! MAT]IAL ADVANCEM5T ( ! CLASS ACTIVE 9 ! ACCUMULATION ( WEAL?1 & 9 ! ABSORPTION ( ! DOM9ION ( ! L&4 

,?AT G5]AL MAT]IAL PROSP]ITY W\LD SOME:AT IMPROVE ! CONDITION ( LABOR1 EV5 UND] SLAV]Y1 !RE CAN BE LITTLE D\BT2 BUT NO ONE C\LD POSSIBLY IMAG9E ?AT IT ALONE W\LD EV] RESULT 9 ABOLI%+ SLAV]Y4 ,PRIVATE DOM9ION ( ! L& C\LD NEV] BECOME O!RWISE ?AN ! OPPRESSOR & PLUND]] ( LABOR1 H[EV] PRODUCTION MI<T BE MULTIPLI$ & FACILITAT$ BY ! APPLICATION ( SCI5CE & 9V5TION 9 ! 9DU/RIAL FIELDS2 OR :ATEV] *ANGES MI<T BE MADE 9 MATT]S ( TRADE OR F9ANCE4 ,!RE CAN BE BUT ONE DIRECT ROAD TO PROGRESS1 & ?AT IS ?R\< COMPLETE 9DU/RIAL FRE$OM4 ,FRE$OM ( ! P]SON ALONE IS NOT SUFFICI5T TO EFFECT ANY SUB/ANTIAL *ANGE1 EXCEPT 9 ! T5D5CY IT HAS TO PROMOTE ! ULTIMATE FRE$OM ( ! 5VIRONM5T1 ON :I* ! LABOR ( ! P]SON MU/ BE EX]T$4 ,! UTT] FUTILITY ( MANY ( ! ATTEMPTS AT LABOR & F9ANCIAL RE=M CANNOT FAIL TO BE SE5 :5 WE CONSID] ?AT !Y >E AT BE/ BUT TEMPOR>Y EXP$I5TS TO ESCAPE ! PRESSURE CAUS$ BY ?IS FUNDAM5TAL WRONG2 BUT :I* !Y HAVE NO P[] TO REMOVE1 OR MORE ?AN MOM5T>ILY TO EVADE4 ,) SU* WE MU/ CLASS NE>LY ALL ! EF=TS ( ! 0,LABOR ,ORGANIZATIONS10 :I*1 H[EV] NECESS>Y = PROTECTION & RELIEF FROM IMM$IATE EVIL1 LOOK TO NO?+ FUR!R ?AN A MITIGATION1 NEV] TO A REMOVAL1 ( ! CAUSES SO CLE>LY PO9T$ \T BY ECONOMIC LAW4 ,NOR CAN WE CLASS AS HI<] 9 ! SCALE ?OSE S*EMES AT F9ANCIAL T9K]+ :I* P]IODICALLY SWAY A L>GE CLASS ( M9DS NORMALLY PROGRESSIVE4 ,! QUE/ION ( MONEY1 OR ( CR$IT1 = !Y >E ! SAME1 IS ONLY ( SUP]FICIAL IMPORTANCE1 & REALLY DOES NOT 9T]E/ ! WAGE WORK]1 BE+ :OLLY A QUE/ION BETWE5 ! DEBTOR & ! CR$ITOR CLASSES4 ,:5 ! CR$ITOR L5DS HIS MONEY1 HE WANTS IT *EAP1 OR RA!R PL5TY1 ) M9IMUM PUR*AS+ P[]4 ,:5 HE COLLECTS IT1 HE WANTS IT DE>1 ) MAXIMUM PUR*AS+ P[]4 ,! 9T]E/ ( ! DEBTOR CLASS IS JU/ ! REV]SE ( ?IS4 ,:E!R IT IS CR$IT OR COMMODITY MONEY HAS LITTLE TO DO ) ! QUE/ION1 & ! ONLY 9T]E/ ! WORK] HAS 9 ! MATT] IS TO UND]/& ?AT :OEV] GA9S OR LOSES BY ! *ANGE 9 MONEY FROM 4 DE> TO *EAP & *EAP TO DE> AS WELL1 ! :OLE LOSS FALLS AT LA/ UPON HIM1 S9CE 9 ! LA/ ANALYSIS IT IS HE :O MU/ PRODUCE ! MEANS1 BO? TO MEET ! LOSSES & TO PAY ! 9T]E/4 ,JU/ N[ ! DEBTOR CLASS >E CLAMOR+ = FIAT MONEY1 SO ?AT !Y CAN BORR[ AT ONE P]C5T1 & PAY DEBTS :I* >E BE>+ FIVE TO T5 P]C5T 9T]E/4 ,?IS ! /ATE1 ) UNLIMIT$ P[]1 CAN DO2 BUT ! /ATE IS NOT LIKELY TO B5EFIT DEBTORS AT ! EXP5SE ( CR$ITORS4 ,ITS TRADITIONS MA9LY PO9T 9 ! OPPOSITE DIRECTION4 ,BUT IF O!RWISE 9CL9$1 NEI!R ! PUBLIC NOR ! LABOR] W\LD BE P]MAN5TLY B5EFIT$ !REBY4 ,EV5 ! DEBTORS AS A CLASS W\LD NOT4 ,= IT W\LD GREATLY PROMOTE ! TEMPTATION TO OBTA9 & EXT5D CR$ITS1 & VA/LY 9CREASE ! AM\NTS REQUIR$ TO BE BORR[$4 ,AS REG>DS ! L&1 SUBJECT AS N[ TO PRIVATE MONOPOLY1 IT W\LD 9CREASE ITS MONEY PRICE FIVEFOLD1 SO ?AT1 TO ! MAN :O HAD TO PUR*ASE ON CR$IT1 ! AM\NT ( ! 9T]E/ W\LD BE ! SAME AS N[4 ,?AT IS1 IF HE WI%$ TO BUY A F>M :I* W\LD YIELD HIM @s#e ANNUALLY CLE> ( EXP5SE & LABOR1 HE C\LD PUR*ASE IT = @s#a11 :5 9T]E/ WAS AT FIVE P]C5T2 BUT IF MONEY WAS 0SO *EAP0 ?AT HE C\LD HIRE IT = ONE P]C5T1 HE W\LD !N HAVE TO PAY @s#e1 = ! SAME F>M1 & ! AM\NT ( ! L[ RATE W\LD BE ! SAME AS ( ! HI< RATE2 ) ?IS DISADVANTAGE1 ?AT IF ! RATE ( 9T]E/ %\LD AGA9 ADVANCE TO FIVE P]C5T1 HE W\LD BE ABLE !N TO SELL HIS F>M = ONLY @s#a11 :I* CO/ HIM @s#e11 & SO C\LD PAY ONLY ONE-FIF? ( HIS DEBT IF IT BECAME NECESS>Y TO SELL HIS F>M4 ,IT IS ONLY /UPIDITY :I* PREV5TS ! CURR5CY 

RE=M] FROM SEE+ ?AT !SE FANTA/IC TRICKS WR\<T ) MONEY VALUES >E MA9LY DUE TO ! ABILITY ( A CLASS1 ?R\< PLIANT LEGISLATORS1 TO PLAY 0FA/ & LOOSE0 ) ! 9/RUM5TS ( COMM]CE1 SO AS TO EFFECT A SLID+ FULCRUM TO ! ECONOMIC BALANCE2 & BY :I* EV5 ! 0LEGAL T5D]0 MAY BE MADE TO MEAN A DAY OR A HALF DAY'S WORK1 ACCORD+LY AS A CLASS >E TO PAY IT \T1 OR TO HAVE IT PAID TO !M4 ,:ILE LABOR REMA9S UNABLE TO EMPLOY ITSELF1 OR TO HAVE ITS RI<TS 9 ! G5]AL PRODUCTION ( ! SOCIAL WEAL? RECOGNIZ$1 METALLIC1 FIAT1 OR COMMODITY MONEY CAN ONLY MODIFY1 NOT ESS5TIALLY *ANGE1 ! FUNDAM5TAL 9JU/ICE2 BECAUSE1 H[EV] SC>CE OR PL5TY ! MONEY1 HE HAS NO?+ TO OBTA9 IT )4 ,MONEY & F9ANCE >E ! V]Y LA/ ELEM5TS 9 ! 9DU/RIAL C\RSE1 & CAN NO MORE AFFECT ! BASIC 9JU/ICE ( \R SY/EM ?AN CAN ! =M OR FA%ION ( ! H& UPON ! CLOCK CORRECT A RADICAL DEFECT 9 ! G5]AL MOVEM5T1 OR A BRAN* OR LEAF UPON A TREE SU/A9 IT :5 UPROOT$4 ,NO SC>CITY OR PL5TY ( ! CIRCULAT+ M$IUM CAN EMANCIPATE ! SLAVE1 OR R$EEM ! PLUND]$ 9H]ITANCE ( ! PEOPLE4 ,ANY SY/EM ( PRODUCTION OR 9DU/RY :I* 9VOLVES !SE WRONGS CAN ONLY WORK 9JU/ICE1 & :I* SUP]FICIAL EXP$I5TS CAN ONLY S]VE TO DEVELOP ) A GREAT] OR A LESS CEL]ITY4 ,ALL LOOK+ TO LEGISLATION TO E/ABLI% JU/ICE & EQUITY 9 \R 9DU/RIAL RELATIONS IS SIMPLY ! GAZE ( IMBECILITY1 EXCEPT 9 AS F> AS IT LOOKS TO ! REPEAL ( CLASS LAWS & ! R$UCTION ( ! P[]S ( ! LEGISLATORS4 ,! TRU? IS ?AT \R SY/EM IS MA9LY >TIFICIAL & UNNATURAL1 & MANY EXP$I5TS ?AT UND] MORE NORMAL CONDITIONS MI<T HAVE A SALUT>Y EFFECT CAN N[ ONLY WORK 9IQUIT\S RESULTS4 

,TO %[ H[ COMPLETELY CAPITALISM HAS P]V]T$ ! NATURAL PROCESSION ( ! 9DU/RIAL LAWS1 ,I H]E) COMP>E ! NATURAL & ! 9V]T$ ORD]S1 ?AT AT A GLANCE WE MAY SEE ! FOLLY ( ATTEMPT+ TO RE=M MATT]S ( SUB/ANCE BY M]E RESORTS ( EXP$I5CY4  

 ,N,A,T,U,R,A,L1 ,O,R,D,]4  

 #a  

 ,PRODUCTIVE ,AG5TS3  

 7A7 ,! ,HUMAN ,5]GIES4  

 7B7 ,! ,L& & ! ,=CES  

( ,NATURE4  

 #b4  

 ,RESULTS3  

 ,PRIVATE & ,SOCIAL ,WEAL?4  

 #c4  

 ,NATURAL ,AW>DS3  

 7A7 ,TO ,LABOR3 ,USES4  

 7B7 ,TO ! ,L&3 ,RETURN (  

! ELEM5TS ( F]TILITY4  

 #d4  

 ,APPORTIONM5T 9 ,SEV]ALTY3  

 ,BY ,RATIO ( ,S]VICE 7TO 9FANTS  

& DISABL$ BY RATIO ( NE$74  

#e4 ,RECIPROCAL ,EX*ANGE3 ,TRANSF] ( EQUIVAL5TS 9 S]VICE4 #f4 ,F9ANCE3 ,MONEY1 BY G5]AL CONS5T2 AN 9/RUM5T TO MEASURE & BALANCE EX*ANGES4 

,9,V,],T,$ ,O,R,D,]4 #a4 ,F9ANCE3 ,MONEY3 ,LEGAL ,T5D] DET]M9+ PRICE & ! MAT]IAL 9 :I* DEBTS MAY BE PAID4 #b4 ,TRADE ,EX*ANGE3 ,TRANSF]S ( NON-EQUIVAL5TS2 ( PRIVILEGE = S]VICE4 #c4 ,UNEQUAL ,APPORTIONM5T3 ,BY ,RATIO ( PRIVILEGE2 9V]SELY AS TO USEFUL S]VICE4 

#d4 ,CAPITALI/IC ,AW>DS3 7A7 ,USES1 TO PRIVILEGE & TO LABOR4 7B7 ,ELEM5TS1 TO PRIVILEGE & TO ! ,L&4 #e4 ,RESULT3 ,PRIVATE ,PROP]TY & EXCLUSIVE ,RI<TS4 #f4 ,PRODUCTICE ,AG5TS3 7A7 ,DEP5D5CE & EMSLAVEM5T ( LABOR4 7B7 ,DOM9ION ( ! ,L& BY ! FEW4 

,BY COMP>+ ! ABOVE IT WILL BE SE5 ?AT NOT ONLY ! G5]AL ORD] IS 9V]T$1 BUT ?AT EA* /EP IS REGUL>LY 9V]T$ FROM ! NATURAL ORD]4 ,! LAT] ECONOMI/S1 IT IS TRUE1 MAKE ! 0,SCI5CE ( ,EX*ANGE0 ! SUB/ANCE ( ECONOMY2 BUT !N !Y DEF9E 0,WEAL?0 TO BE 0ANY?+ :ATEV] :OSE VALUE CAN BE MEASUR$ 9 ,MONEY20 ?US MAK+ MONEY ! RUL+ FACTOR1 DET]M9+ ALL VALUES & DOM9AT+ EV]Y TRANSACTION4 ,BY ! AID ( ! LAW ONLY HAS IT ?IS P[]2 & BY ITS CONTROL ( 9DEBT$NESS1 & ! CONF9+ ( PAYM5T TO A P>TICUL> T5D]1 IT DET]M9ES ALL DEAL+S & GOV]NS ALL EX*ANGES4 ,FROM BE+ ! S]VANT ( COMM]CE1 IT HAS BECOME ITS MA/]4 ,FROM BE+ AN 9/RUM5T1 LAW HAS MADE IT A K+4 ,TO UNMAKE ! LAW WILL NOT UNMAKE ! MONEY1 BUT SIMPLY ABROGATE ITS K+LY PR]OGATIVE4 

,IT MAY BE CLAIM$ ) TRU? ?AT S9CE MONEY IS 

LA/ & AT ! TOP ( \R 9V]T$ SY/EM1 IT %\LD 

!RE=E CLAIM \R FIR/ ATT5TION4 ,I DO NOT OBJECT TO ?IS1 BUT TO ! ABSURDITY ( DIRECT+ ! :OLE =CE ( ?\<T TO IT TO ! EXCLUSION ( ! MORE IMPORTANT MATT]S ( EX*ANGE & [N]%IP2 P>TICUL>LY TO 9VOK+ LEGISLATION--9/EAD ( ASK+ IT TO UNDO :AT IT HAS BLUND]+LY OR CORRUPTLY DONE-- 9 FUR!R EXP]IM5TS1 & 9 A FIELD1 TOO1 :]E !RE IS SO MU* CONJECTURE1 & :]E SO MU* DEP5DS ON CONTROLL+ TO HONE/ PURPOSES A SY/EM ( LAW-MAK+ :I* LONG AGO P>T$ ) ALL HONE/Y OR DEC5CY4 ,NOT ?AT POLITICIANS >E 9 !MSELVES WORSE ?AN O!R M51 BUT ?AT !Y HAVE BECOME SUBJECT$ TO ! 0LAW ( ! M>KET10 & SO R$UC$ TO 0PUR*ASABLE COMMODITIES40 

,= REASONS NOT ALWAYS S\ND OR COG5T1 ! OLD] LABOR ORGANIZATIONS HAVE G5]ALLY ES*EW$ POLITICAL ACTION4 ,! RESULT HAS BE5 ?AT !IR /R5G? HAS BE5 DISSIPAT$1 BY BE+ QUITE EV5LY DIVID$ BETWE5 ! TWO PROM95T POLITICAL P>TIES1 & SO SIMPLY NEUTRALIZ$1 BY HAV+ ! ONE HALF VOT$ AGA9/ ! O!R HALF4 ,O!R COMB9ATIONS TO BE SOLD OR TRAD$ BY DESIGN+ LEAD]S TO ! ONE OR TO ! O!R P>TY1 HAVE S]V$ ALSO TO /R5G!N RA!R ?AN *ANGE ! G5]AL PURPOSE TO KEEP \T ( POLITICS4 

,BUT !IR ME?ODS >E TOO EXCLUSIVE1 >BITR>Y1 & DESPOTIC TO SECURE ! SYMPA?Y ( REF9$ & PROGRESSIVE M9DS4 ,! /RIKE1 ! ATTEMPT TO EXCLUDE O!R ?AN UNION M5 FROM WORK1 ! BOYCOTT1 & D5IAL ( FRE$OM TO CONTRACT1 >E ESS5TIALLY MONOPOLI/IC1 & CAN ONLY BE JU/IFI$ ON ! GR\ND ( SELF-DEF5SE AGA9/ ! GROSS] MONOPOLY1 & MORE P[]FUL COMB9ATIONS1 ( EMPLOY]S4 

,)9 A FEW YE>S AN ORD] HAS BE5 E/ABLI%$ :I* SEEM$ AT FIR/ TO PROMISE GREAT GOOD1 AS AN 9/ITUTION TO $UCATE LABOR 9TO A KN[L$GE ( FUNDAM5TAL ECONOMICAL SCI5CE4 ,IT HAD MANY DANG]S TO 5C\NT]2 A *IEF ONE ( :I* %\LD HAVE BE5 SUFFICI5TLY 9DICAT$ BY ! EXP]I5CE ( ! 0,ORD] ( ,UNIT$ ,AM]ICANS10 :OSE BRILLIANT & EVANESC5T HI/ORY IS )9 ! MEMORY ( MANY N[ LIV+1 & :I* FULLY ILLU/RATES ! DIFFICULTY ( *ANG+ AN $UCATIONAL TO AN ADM9I/RATIVE FUNCTION & ! UTT] IDIOCY ( ESSAY+ SALUT>Y RE=MS ?R\< POLITICAL DICK]4 ,IT IS TO BE FE>$ ?AT A TOO RAPID GR[? HAS DEVELOP$ A SIMIL> WEAKNESS 9 ! LAT] ORD]2 BUT IT MAY NOT BE YET BEYOND ! CONTROL ( ! ORIG9AL IMPULSE :I* 9AUGURAT$ IT1 & :I* PROPOS$ NO LESS A TASK ?AN ! 9/RUCTION ( BO? ! WORK] & ! DIRECTOR ( LABOR AS WELL1 TO ! MUTUAL ADVANTAGE ( ALL ?OSE :O SEEK ! SATISFACTION ( P]SONAL WANTS ?R\< HONE/ PURPOSE & USEFUL S]VICE1 9 ! LAWS ( 9DU/RIAL ECONOMY & EQUITABLE EX*ANGE4 ,IF ! DIV]SION FROM !SE PURPOSES1 ?R\< POLITICAL 9TRIGUE1 AGITATION1 & EXCITEM5T1 IS TO BE DEPLOR$1 F> MORE IS ! 9SANE ?\<T ?AT ! 9T]E/S ( LABOR & SOCIAL JU/ICE CAN BE PROMOT$ BY VIOL5CE & BLOOD%$4 ,SUPPOS+ SU* ATTEMPT POSSIBLE ( SUCCESS1 IS ! BOYCOTT] MORE CAPABLE ( DO+ JU/ICE ?AN ! BOYCOTT$8 ,IS ! EXCLUSIVE RULE ( A UNION ANY LESS >BITR>Y & DESPOTIC ?AN ! CAPITALI/ CORPORATION8 ,IF ,B\RBON K+ IS DE?RON$ & BEHEAD$ BY A SUCCESSFUL REVOLUTION1 :O %ALL SAVE US FROM ! MISRULE ( A ,DANTON OR ,M>AT8 ,:O WILL =ECA/ ! *ANCES ?R\< :I* A ,WA%+TON OR EV5 A ,CROMWELL MAY BE EVOLV$ FROM A C>NIVAL ( BLOOD #b ,BUT NO SUCCESS IS POSSIBLE4 ,! PROLET>IAT1 :O >E N[ VOT$ AT ! POLLS BY POLITICAL LEAD]S1 WILL BE L$ TO ANY CIVIL CONFLICT :I* MAY >ISE AS POLICEM51 SOLDI]S1 OR MILITIA1 & AS ! M9IONS ( CAPITAL & PRIVILEGE4 ,LABOR]S SUFF]+ 5=C$ IDL5ESS WILL GLADLY 5LI/ = A MON?LY /IP5D TO GU>D ACCUMULAT$ WEAL?4 ,IT IS FOLLY TO SUPPOSE ?AT ?OSE :O CANNOT VOTE1 OR REFRA9 VOT+1 FROM CONVICTION1 CAN BE BR\<T TO %OOT1 OR TO REFUSE TO %OOT1 ?R\< ANY S5SE ( RI<T1 OR 0ET]NAL JU/ICE40 ,& YET IT WILL NOT BE WELL = ?OSE :O RELY = ! P]PETUATION ( WRONGFUL PRIVILEGE UPON ! CU/OM>Y MOTIVES :I* SWAY MANK9D1 TO PRESUME TOO F> UPON ?IS SECURITY4 ,9SANITY PROCE$S UND] LAW1 AS WELL AS SANITY4 ,IT IS BEGOTT5 ( UNNATURAL & =C$ CONDITIONS1 & AL?\< IT MAY AFFECT BUT A FEW1 IT WILL AFFECT !M ALL ! MORE DEEPLY4 ,& SIMIL> EXCESSES ON ! P>T ( ! DOM9ANT P[]1 & ! PURPOS$ =C+ ( LABOR /RIKES & EMEUSES1 MAY DEVELOP ]RATIC *AMPIONS ( LABOR1 LIKE ,JOHN ,BR[N1 ) SUFFICI5T ME?OD 9 !IR MADNESS TO FIRE ! HE>TS IMBRUT$ BY DESPAIR & GREATLY DAMAGE PROP]TY & LIFE1 IF !Y DO NO?+ EFFECTIVE T[>D ! EMANCIPATION ( LABOR4 ,5GL& IS LE>N+1 ?\< LATE1 ?AT REPRESSION & CO]CION DO NOT REM$Y1 BUT 9CREASE1 DISORD]S4 ,SURELY IT MU/ BE POSSIBLE ?AT ! 9TELLIG5CE & GOOD JUDGM5T ( \R MANAG]S ( AFFAIRS1 \R DIRECTORS ( LABOR1 & \R WORK+M5 ( ?\<T1 WILL1 )\T MANY MORE FATAL BLUND]S1 DISCOV] ?AT TRUE PROGRESS1 ORD]1 & MAT]IAL PROSP]ITY DEP5D UPON ! G5]AL LIB]TY TO LABOR1 CLE> CONCEPTIONS ( ECONOMIC LAW1 & ! HONE/ PURPOSE TO E/ABLI% EQUITY & JU/ICE 9 ALL RELATIONS 9VOLV+ HUMAN 9DU/RY4 ,:AT IS TO BE APPREH5D$1 &1 IF POSSIBLE1 AVOID$1 IS ! DIV]SION ( ! M9DS ( ! WORK]S !MSELVES4 ,!Y >E LIABLE TO BE DRAWN 9TO SUP]FICIAL MOVEM5TS = ! ADOPTION ( SPECI\S REM$IES = M9OR EVILS1 & SO BE MADE ! DUPES ( POLITICAL ASPIRANTS4 ,POLITICAL P[] IS S\<T MA9LY = P]SONAL OR CLASS AIMS1 SELDOM FROM A DESIRE TO PROMOTE ! PUBLIC GOOD4 ,ITS ATTA9M5T IS AT ! EXP5SE ( 9DU/RY1 & IT IS IDLE TO SUPPOSE ?AT IT WILL BE WIELD$ 9 ! 9T]E/ ( LABOR4 ,9 ANY QUE/ION AS BETWE5 ! WORK] & ! HOLD] ( PRIVILEGE1 IT IS C]TA9 TO ?R[ ITSELF 9TO ! SCALE ) ! LATT]1 = IT IS ITSELF ! S\RCE ( PRIVILEGE1 ! CREATOR ( CLASS RULE4 ,ACCUMULAT$ 9 :ATEV] H&S1 :E!R POLITICIAN1 CAPITALI/1 OR EX-WORK+MAN1 IT IS C]TA9 TO BE EMPLOY$ TO 9CREASE ITSELF AT ! EXP5SE ( SOCIETY4 ,CONTROL ( O!RS HAS A S+LE MOTIVE--?AT ( GA9 9 GOODS OR FAME4 ,SLAV]Y HAS A S+LE PURPOSE--?AT ( OBTA9+ ! RESULT = :I* ANO!R WORKS4 ,EXCLUSIVE L&-HOLD+ HAS A S+LE AIM-- ?AT ( REAP+ ITS FRUITS ?R\< ! COMPULSORY TOIL ( O!RS4 ,! ECONOMIC UND]LIES1 !N1 ! CIVIL & POLITICAL IMPULSE TO GOV]N & LEGISLATE = MANK9D4 ,=1 H[EV] GREAT HIS DESIRE OR AMBITION1 ! ASPIR+ POT5ATE ( ANY GRADE OR K9D C\LD NOT GREATLY 5DANG] ! LIB]TIES OR HAPP9ESS ( A PEOPLE IF HE C\LD NOT COMM& !IR S]VICE OR GA!R ! PRODUCTS ( !IR LABOR )\T RETURN+ AN EQUIVAL5T S]VICE OR PRODUCT4 ,P[] ONCE CONC$$ TO A CZ>1 K+ & P>LIAM5T1 PRESID5T & CONGRESS1 GOV]NOR & LEGISLATURE1 OR ANY CO]CIVE RULE1 OP5S ! ,P&ORA'S BOX ( ALL WRONGS & DESPOTISMS4 ,=1 AL?\< OCCASIONALLY RUL]S >E ANIMAT$ BY A S5SE ( JU/ICE & A REG>D = ! G5]AL GOOD1 FEW CAN RESI/ ! EV]-PRES5T TEMPTATION TO USE P[] TO PROMOTE P]SONAL USES1 & /ILL FEW] CAN D5Y ! CON/ANT IMPORTUNITIES ( GRE$Y & UNSCRUPUL\S HANG]SON1 :O SEE 9 ! POSSESSION ( P[] ONLY A MEANS = ! OBTA9+ ( UNE>N$ WAGES1 & ! APPROPRIAT+ ( ! WEAL? PRODUC$ BY UNPAID TOIL4 ,IF ! 9TELLIG5T WEAL?-PRODUC] HAS A WELLDEF9$ DESIRE TO HAVE ! CONDITION ( ! LABOR] IMPROV$1 HE WILL DIRECT HIS ?\<T & ?AT ( HIS FELL[S TO ! ECONOMIC RA!R ?AN TO ! POLITICAL ASPECT ( AFFAIRS1 EV5 IF HE DO NOT REFUSE ALL P>TICIPATION 9 POLITICS UNTIL ! 0L& & LABOR QUE/ION0 HAS BE5 EXHAU/IVELY CANVAS$ 9 ITS RELATION TO ECONOMIC VALUES & EQUITIES1 & UNTIL ALL P[] TO CREATE >TIFICIAL VALUES1 5=CE R5T1 9T]E/1 OR 9EQUITABLE CONTRACT ( ANY K9D1 HAS BE5 )DRAWN FROM ! LEGISLATURE & ELIM9AT$ FROM ! FUNCTIONS ( GOV]NM5T ALTOGE!R4 

,FROM 3 ,GOOGLE ,BOOKS4 

,*RONOLOGY 3 
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