ABSTRACT
The Marxist conceptions appear to assume that society is made up of two beings belonging to two different species, that society is a monster like those invented by the designers of the Middle Ages. Marxism denies the power of reform and appears to contradict common sense. The free-traders assumed that the fears were childish after capitalism had reached a high level of development. Capitalism was strong enough to face all difficulties on its own. The industrialists who displayed too much caution would suffer such strong losses that their neglect could not last long. Whereas the old economic legislation had favored progress by giving direct or indirect rewards to entrepreneurs, the new legislation reverted to imposing large fines on industries too little disposed to embracing progressive methods. As Karl Kautsky says, in no other country has the bourgeoisie been more inconvenienced than in England, but in spite of this it is there that "capitalist production has developed first and most sharply."
