|1.||Socialist criticism is essentially constructive and impersonal.|
|2.||The invention of machinery and the rise of factories brought about the reconstruction of social classes, the capitalist owners of the means of production becoming the dominant class and the proletariat, composed of propertyless wage-workers, the subject class.|
|3.||Between the capitalist class and the proletariat is a middle class, less definitely constituted than either, and with the interests and sympathies of its members divided.|
|4.||The capitalist age has been one of great material progress, with a distinct gain in the absolute well-being of the majority.|
|5.||The compensation of labor under capitalism takes the form of a competitive wage, and the typical wage is just sufficient to maintain the current standard of life of the laborer and his family.|
|6.||The standard of life tends to rise from generation to generation, creating a continually strengthening demand for higher wages.|
|7.||The capitalist domination of industry acts as a great repressive force tending to lower the standard of life of the proletariat.|
|1.||Why do Socialists refuse to direct special attacks against the institutions of monarchy?|
|2.||What are the dominant characteristics of the capitalist class? Of the proletariat?|
|3.||What reasons are there for considering the position of the proletariat one of wage-slavery?|
|4.||What are the advantages of the corporation as a form of business organization?|
|5.||In what respects has the working class gained through capitalism?|
|6.||Distinguish between absolute and relative well-being.|
|7.||Criticise the "Iron Law of Wages."|
|8.||What is meant by the "Standard of Life"?|
|9.||How is the standard of life related to the wage system?|
Ely R. T., and Wicker G. R., Elementary Principles of Economics, Part IV, Chap. III.
Marx Karl, Capital, Vol. I, Parts II and VI.
Spargo John, The Common Sense of the Milk Question, Chap. I; The Substance of Socialism, Part III.
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Book title: Elements of Socialism:A Text-Book. Contributors: John Spargo - Author, George Louis Arner - Author. Publisher: Macmillan. Place of publication: New York. Publication year: 1912. Page number: 18.