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Thorstein Veblen examines the modern industrial system as a structure defined by the machine process and investment for profit. He analyzes how business enterprise and the pursuit of financial gain serve as the primary forces directing contemporary economic organization.

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The Theory Of Business Enterprise

arbitration of differences between owners and workmen; standard rates of wages; normal working day, with penalized regulation of hours for men, women, and children ; penalized regulation of sanitary and safety appliances; mutual insurance of workmen, to cover accident, disability, and unemployment. In all of this the aim of unionism seldom goes the length of overtly disputing i the merits of any given article of natural-rights dogma. It only endeavors to cut into these articles, in point of fact^ at points where the , dogmas _patently traverse the conditions of life imposed on the workmen by the modem industrial ' system or where they traverse the consensus of sentiment that is coming to prevail among these , workmen.

When unionism takes an attitude of overt hostility to the natural-rights institutions of property and free contract, it ceases to be unionism simply and passes over into something else, which may be called socialism for want of a better term. Such an extreme iconoclastic position, which would overtly assert the mechanical standardization of industry as against the common-law standardizar tion of business, seems to be the logical outcome to which the trade-union animus tends, and to which some approach has latterly been made by more than one trade-unionist body, but which is, on the whole, yet in the future, if, indeed, it is to

be reached at all. On the whole, the later expressions go farther in this direction than the earlier; and the animus of the leaders, as well as of the more wide-awake hody of unionist workmen, appears to go farther than their official utterances.

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