IT would have been a difficult task to write the history of Modern Industrialism in a work of five or six volumes. It is a still bolder undertaking to attempt it within the pages of a single book. Believing firmly in the necessity of a clear understanding of what our complicated industrial society means, I have attempted neither a work of many volumes nor a compact history of modern industry, but have endeavored to show in its essentials only what that history has been in three countries, how complicated industry is in the machinery of production, exchange and distribution, and finally what problems arise from the very nature of the complicated organization with which states are forced to deal. To facilitate this treatment the book is divided into the three parts: History, Industry, and Administration.
It is still further my belief that in our present industrial society are to be found all the essentials of the future state. If a people know what these are, to what purpose they may be utilized, how strong and how weak fundamental principles of organization are, they may look with greater confidence to the future of the industrial state. As a people, the inhabitants of the United States are confronted by more serious problems than the people of Great Britain or Germany. Our very institutions, our democ-