ABSTRACT
To anyone who reflects upon industrialism it is clear that it requires, for its successul practice, somewhat different virtues from those that were required in a pre-industrial community. But there is, to my mind, widespread misapprehension as to the nature of those virtues, owing to the fact that moralists confine their survey to a short period of time, and are more interested in the success of the individual than in that of the race. There is also, in all conventional moralists, a gross ignorance of psychology, making them unable to realize that certain virtues imply certain correlated vices, so that in recommending a virtue the consideration which ought to weigh is: Does this virtue, with its correlative vice, outweigh the opposite virtue with its correlative vice? The fact that a virtue is good in itself is not enough; it is necessary to take account of the vices that it entails and the virtues that it excludes.
