Preface

or it must die. Even now, the mere reduction of England’s lion’s share in the supply of the world’s markets means stagnation, distress, excess of capital here, excess of unemployed workpeople there. What will it be when the increase of yearly production is brought to a complete stop? > > “Here is the vulnerable place, the heel of Achilles, for capitalistic production. Its very basis is the necessity of constant expansion, and this constant expansion now becomes impossible. It ends in a deadlock. Every year England is brought nearer face to face with the question: either the country must go to pieces, or capitalist production must. Which is it to be? > > “And the working-class? If even under the unparalleled commercial and industrial expansion, from 1848 to 1866 , they have had to undergo such misery; if even then the great bulk of them experienced at best but a temporary improvement of their condition, while only a small, privileged, ‘protected’ minority was permanently benefited, what will it be when this dazzling period is brought finally to a close; when the present dreary stagnation shall not only become intensified, but this, its intensified condition, shall become the permanent and normal state of English trade? > > “The truth is this: during the period of England’s industrial monopoly the English working-class have, to a certain extent, shared in the benefits of the monopoly. These benefits were very unequally parcelled out amongst them; the privileged minority pocketed most, but even the great mass had,