ABSTRACT
Almost every century has had its flatterers to tell it of its greatness as a turning point in history ; and this may well make one a trifle sceptical of those who insist that the politics of the present hold in the balance the fate of a whole civilization and a whole epoch. The Collectivist assumes that collective is preferable to individual undertaking, and that inequality is undesirable when it is not in the interests of economic efficiency. The Liberal assumes that capitalist undertaking under the conditions which ruled in its heyday in the nineteenth century is the best form of enterprise which can be devised. It is important to notice that the tendency—the Collectivist —may travel parallel with the first through a series of compromises, whereby both parties co-operate on such collective control as both agree upon, and each abandons those extreme proposals over which there is antagonism.
