ABSTRACT
The economic laws aimed at and formulated under the guidance of this preconception are laws of what takes place "naturally" or "normally", and it is of the essence of things so conceived that in the natural or normal course there is no wasted or misdirected effort. The natural forces at play in the economic field may increase indefinitely through accretions brought in under man's dominion and through the natural increase of mankind, and, indeed, it is of the nature of things that an orderly progress of this kind should take place. A result of the acceptance of the theoretical distinction attempted between industrial and pecuniary employments and an effective recognition of the pecuniary basis of the modern economic organisation would be to dissociate the two ideas of productivity and remuneration. The effects of the like one-sided discipline are similarly visible in the highly irregular, conventionally indefensible attitude of the industrial classes in the current labor and wage disputes.
