Two stone axe heads were better than one, for trading. The early bird to accumulate a stock became the first capitalist. But it is the 19th century economic set-up for which we reserve the term capitalism, which in the 20th century became finance capitalism.
Inevitable change is inevitably resisted by those who have benefited from the established order. Feudalism for centuries resisted the advance of capitalism, but received fatal blows in Napoleon's time. In their death struggle those who are about to die may bring about war.(1)
Pessimists, Spenglers and Sorokins, see in all this only the turn of the wheel, no movement of the axle. Others see ground covered, a drift toward something vaguely comprehended as collectivism. National varieties, known as Fascism, Nazism, Stalinism, have grown out of specific local conditions, though they may owe something to theoretical writings.
The seizure of power over people is a wholly different matter which has developed locally in all periods of history, with castled feudal barons as with American city bosses, whose achievements Willkie is now so earnestly exploiting.
"Our own drift toward collectivism in America" was recognized by James Mooney, vice-president of General Motors, at the annual meeting of the Associated Industries of Massachusetts, in Boston, October 17. "Over the past fifteen years, real democracy in the original American sense has been tried less and less as a remedy for our troubles. And that goes for England and France, our 'sister democracies', just as much as it does for America."(2)
"The Rooseveltian system, though it maintains the outward forms