ABSTRACT
Capitalism is name given to that economic organization wherein regularly two distinct social groups co-operate—the owners of the means of production, who at the same time do the work of managing and directing, and the great body of workers who possess nothing but their labour. Everybody knows that a modern business is not merely, say, the production of rails or cotton or electric motors, or the transport of stones or of people. Everybody knows that these are but parts in the organization of the whole. And the characteristics of the undertaker are not that he arranges for the carrying out of the processes named. Constant the undertaker must be, for, having set his heart upon some far-distant goal, he is of necessity bound to follow some plan in order to reach it.
