ABSTRACT
The useful consideration of practical economic reforms, however, has to start with the accepted basis of the private ownership of the great bulk of the capital, and the private direction of the greater part of the industry of the country. Profit-sharing is objected to in cases in which the firm is considered to pay wages lower than those recognized by the trade union as the proper rates. The most vital economic solidarity, however, is not between 'labour' on the one side and capital on the other, but between those of every grade who are banded together in a common industrial task. The greater part of the problem of applying modifications of the co-operative principle may indeed be said to resolve itself almost entirely into a simple economic and simple moral question, the one of gain, and the other of goodwill.
