An Introduction to Political Economy

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A large part of the indus- trial troubles of modern society undoubtedly find their origin in the fact that development of the economic depart- ment of social life has proceeded uKn-e slowly than the de- velopment of other departments. Eisewhere the despotic principle has been softened or displaced, but continuing in the economic sphere it is a discordant element; yet it is diffi- cult for most of us to see how for a long time to come we can wholly dispense with the one-man principle in industry....
It should, liowever, be softened as far as practicable, and men should be gradually trained to understand industrial republi- canism or democracy. M. Godin has set a noble example.
Industrial democracy means self-rule, self-control, the self- direction of the masses in their efforts to gain a livelihood.
Industrial democracy is industrial self-government, and this is found in pure co-operation.
Cooperation is of two kinds : coercive, which means governmental action, and voluntary. We have here to do with voluntary co-operation, and this is what is usually meant PROFIT-SHARING AND CO-OPERATION.


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