Excerpt from Capital and Profits: Containing a Criticism of Marx and the Next Step in Our Industrial Evolution
Socialism is itself in process of evolution. It has already passed through two stages of development. In the first stage, the so-called Utopian, it caught sight of its chief aim, which is - to secure universal economic justice. In the second stage, the Marxist, it caught sight of the evil principle which socialism must overthrow, namely, that feudalistic capitalism or financial despotism which is the fundamental cause of economic injustice and wrong.
But socialism must now enter upon a third stage of develop ment and unfold the concrete plan of industrial reconstruction by which to overthrow industrial autocracy and secure justice and fair play in the struggle for bread.
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