An underlying fallacy of Socialism is the concept that poverty or at least extreme poverty, can be banished from the world. It cannot. It is impossible for the effective to produce and save as fast as the ineffective will waste and destroy if they can get at it. No truth in the Bible is more profound than the saying: "The poor ye have always with you."

The concept is based upon an unfounded belief in the competence of the average man. He is not nearly so competent an animal as he has taught himself to believe. We read our Nordau and with but the very slightest ability to judge what he says we declare him a libeler. We read our Le Bon and declare off-hand that it is absurd and wicked to say that the crowd has no more sense than a flock of sheep. When we hear of an alienist who cites the increase of murder, suicide and insanity as evidence that mankind is losing its mental balance, we declare that the man is crazy himself.

I do not say that such men are or are not right or anywhere near right in the views they express, but I do say that they are writing in cold blood in the light of a great deal of exact knowledge and certainly are much better judges of the truth in those matters than most of us who dispose of them so brusquely.

The fact is that man, like other animals, differs greatly in individual ability but he differs from other animals in that the difference between the most competent and the least competent is enormously greater than such difference in any other species. The highest type of man is almost Godlike in the scope and keenness of his intellect. The lowest type reaches depths of degradation not touched by any other animal. There is no degradation so utterly degraded as a degraded mind.

If you ask what all this has to do with Socialism, the reply is that it has everything to do with it. The sole object which I have in this address is to impress upon you the concept of man as an animal in the grip of an all-powerful Nature, and differing from other animals solely in his greater ability to dodge and evade, and so prolong the processes through which Nature will surely get him in the end; to conceive of him also as subject to the same law which enthralls other animals, whereby the fittest who demonstrate their fitness in the economic struggle shall survive while the least fit shall perish; to conceive of him as prepared and inspired for the struggle by the love of self which Nature has implanted in his soul in order that the race may endure to the utmost limit possible for it, by the survival of those having the greatest capacity for happiness.

And, having fixed this conception in your minds, form your own judgment of the probable outcome of a contest which would begin by eliminating from man the one principle—selfishness—through which he must survive if he survives at all.

Thus far, I have dealt with the subject in icy cold blood as a purely economic problem wholly excluding all considerations of humanity. It must be dealt with in that way if we are to deal with it intelligently. What must be will be, however dearly we may wish it otherwise. But we do not wish to go home with ice in our souls, and let us see if we cannot find some reflections more comforting. I am sure that we can.

I have said that humanitarianism has no legitimate place in economic discussion and it has not. But it has a very large place outside economic theory and often in contact with economic results.

There may be economic gains which ought to be and will be surrendered for social gains, as long as we can do it and live. A very reliable test of the prosperity of a Society is the extent to which it can without distress, surrender economic goods in exchange for social goods.

I have attacked Socialism, not Socialists. Multitudes of Socialists are most charming men and women, and the aspirations of pure Socialism are the noblest of which the human mind can conceive. How impossible they are of realization I think they are, I have endeavored to show. But there are individualists whose ideals are equally noble. Any conception that Socialists as a class are upon a higher ethical plane than individualists may be dismissed. Personally, I fear that at present the average ethical plane of Socialists is below that of opponents for the allurements of Socialistic theory have attracted to that cult a great number of the economically impotent, but nevertheless greedy, who know nothing and care less about Socialistic theory but lust for that which they have never earned. It is they who promote class hatred as well as class consciousness. They are an effective offset, morally, to the greedy and consciousless employers who nevertheless perform a useful economic function which the greedy among the Socialists do not.