ABSTRACT
The moderate Marxists of the German Social Democratic type believe themselves to have found in the wage agreement the complete corrective of the private capitalist system. When the Walchensee loan was issued in Munich, Feder called a meeting there and protested against the loan; a work of this sort belonged to the people and must not be delivered up to the power of capitalist lenders. For the "capitalist inducement" is the cheapest relay horse for every economic activity—and, as everybody knows, Stalin not long ago reintroduced unequal remuneration of labour. The capitalist measures by the productivity of his undertaking, and by its inner reserves, whether it is "well" or "ill," not by the dividend. Anyone who misses the fundamental meaning of capitalism, anyone who demands an income for unproductive capital just as if it were productive, injures the capitalist system and reduces its vitality.
