From Serfdom to Socialism - Softcover

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1907 edition. Excerpt: ... APPENDIX CHAPTER I SOCIALISM AND COMMUNISM, SOME DEFINITIONS What is characteristic of Socialism is the joint ownership by all the members of the community of the instruments and means of production, which carries with it the consequence that the division of all the produce among the body of owners must be a public act performed according to the rules laid down by the community.--John Stuart Mill, Philosopher and Political Economist. Whereas industry is at the present carried on by private capitalists served by wage labour, it must be in future conducted by associated or co-operating workmen jointly owning the means of production. On grounds both of theory and history this must be accepted as the cardinal principle of Socialism. --Encyclopedia Britannica. The Alpha and Omega of Socialism is the transformation of private and competing capitals into a united collective capital.--Professor Schaffle, Author of the Quintessence of Socialism. The result of the analysis of Socialism may be brought together in a definition which would read somewhat as follows: Socialism is that contemplated system of industrial society which proposes the abolition of private property in the great material instruments of production, and the substitution therefor of collective property; and advocates the collective management of production, together with the distribution of social income by society and private property in the larger proportion of this social income.--Professor R. T. Ely, Author of Socialism and Social Reform. iog Communism is the theory which teaches that the labour and the income of society should be distributed equally among all its members by some constituted authority.-- Palgrave's Dictionary of Political Economy. Socialism: Any system of...