The Future of Trades-Unionism And Capitalism in a Democracy
The Future of Trades-Unionism And Capitalism in a Democracy
Eliot Charles William
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It distrusts the com- Digitized by Google 82 Future of Capitalism petition which is pressed to the abandon- ment of profit. It perceives that the competition which is essential to freedom and progress may be maintained without hostility to competitors or destructive- ness. As the President of the United States Steel Corporation expressed it at a dinner given by an association of co6p- erating and competing companies or establishments in the iron and steel indus- tries: "You believe in competiti...on, but not hostility; in rivalry, but not antag- ( ,/. * onism; in progress and success for all, * \ but not in the punishment or destruction of any." This recognition by capital of the true' democratic doctrine of competi- tion over against monopoly is a striking manifestation of the effects of democracy on capitalism. One of the most intelligent and far- Digitized by Google In a Democracy 83 reaching of democratic ideals is the ideal of an improving lot throughout life for every faithful workman and good citizen, a lot improving as regards earnings, com- fort, and the consideration in which he is held by his fellows.
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