Labors Crisis An Employers View of Labor Problems

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Popular prejudice against capital is not a modern manifestation; it is as old as the relationship of master and servant. It has, however, become greatly intensified in modern times by the rapid industrial development, by the vast accumulation of wealth, and by the increasing power THE PRESENT LABOR FERMENT 95 of capital. Under an autocratic form of government this prejudice cannot find outward expression, but with the spread of democracy, or rather of socialism, the manifestations against capit...al are given free rein and may assume dangerous proportions, as is witnessed in many European countries at the present time.
The relationship of capital and labor, wdiile it con- cerns more directly the two parties, involves neverthe- less a tripartite interest, the third party being the state, or in other words the public, which is distinctly and vitally interested. This relationship is subject to the regulations and in a measure also to the control of the state, which is invested with the power of imposing upon it restrictive and corrective laws in the interest of the commonwealth.


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