governed by the pursuit of private gain. It is when these standard theories are sought to be applied to the later situation, which has outgrown the conditions of handicraft, that they appear nugatory or meretricious. The "competitive system" which these standard theories assume as a necessary condition of their own validity, and about which they are designed to form a defensive hedge, would, under those earlier conditions of small-scale enterprise and personal contact, appear to have been both a passably valid assumption as a premise and a passably expedient scheme of economic relations and traffic. At that period of its life-history it can not be said consistently to have worked hardship to the common man; rather the reverse. And the common man in that time appears to have had no misgivings about the excellence of the scheme or of that article of Natural Rights that underlies it.
This complexion of things, as touches the effectual bearing of the institution of property and the ancient customary rights of ownership, has changed substantially since the time of Adam Smith. The "competitive system," which he looked to as the economic working-out of that "simple and obvious system of natural liberty" that always engaged his best affections, has in great measure ceased to operate as a routine of natural liberty, in fact; particularly in so far as touches the fortunes of the common man, the impecunious mass of the people. De jure, of course, the competitive system and its inviolable rights of ownership are a citadel of Natural Liberty; but de facto the common man is now, and has for some time been, feeling the pinch of it. It is law, and doubtless it is good law, grounded in immemorial usage and authenticated with statute and precedent. But circumstances have so chang
ed that this good old plan has in a degree become archaic, perhaps unprofitable, or even mischievous, on the whole, and especially as touches the conditions of life for the common man. At least, so the common man in these modern democratic and commercial countries is beginning to apprehend the matter.
Some slight and summary characterisation of these changing circumstances that have affected the incidence of the rights of property during modern times may, therefore, not be out of place; with a view to seeing how far and why these rights may be due to come under advisement and possible revision, in case a state of settled peace should leave men's attention free to turn to these internal, as contrasted with national interests.
Under that order of handicraft and petty trade that led to the standardisation of these rights of ownership in the accentuated form which belongs to them in modern law and custom, the common man had a practicable chance of free initiative and self-direction in his choice and pursuit of an occupation and a livelihood, in so far as rights of ownership bore on his case. At that period the workman was the main factor in industry and, in the main and characteristically, the question of his employment was a question of what he would do. The material equipment of industry—the "plant," as it has come to be called—was subject of ownership, then as now; but it was then a secondary factor and, notoriously, subsidiary to the immaterial equipment of skill, dexterity and judgment embodied in the person of the craftsman. The body of information, or general knowledge, requisite to a workmanlike proficiency as handicraftsman was sufficiently slight and simple to fall within the ordinary reach of the working class, without special schooling; and the material
equipment necessary to the work, in the way of tools and appliances, was also slight enough, ordinarily, to bring it within the reach of the common man. The stress fell on the acquirement of that special personal skill, dexterity and judgment that would constitute the workman a master of his craft. Given a reasonable measure of pertinacity, the common man would be able to compass the material equipment needful to the pursuit of his craft, and so could make his way to a livelihood; and the inviolable right of ownership would then serve to secure him the product of his own industry, in provision for his own old-age and for a fair start in behalf of his children. At least in the popular conception, and presumably in some degree also in fact, the right of property so served as a guarantee of personal liberty and a basis of equality. And so its apologists still look on the institution.
In a very appreciable degree this complexion of things and of popular conceptions has changed since then; although, as would be expected, the change in popular conceptions has not kept pace with the changing circumstances. In all the characteristic and controlling lines of industry the modern machine technology calls for a very considerable material equipment; so large an equipment, indeed, that this plant, as it is called, always represents a formidable amount of invested wealth; and also so large that it will, typically, employ a considerable number of workmen per unit of plant. On the transition to the machine technology the plant became the unit of operation, instead of the workman, as had previously been the case; and with the further development of this modern technology, during the past hundred and fifty years or so, the unit of operation and control has increasingly come to be not the individual or isolated plant but rather an articulated group
of such plants working together as a balanced system and keeping pace in common, under a collective business management; and coincidently the individual workman has been falling into the position of an auxiliary factor, nearly into that of an article of supply, to be charged up as an item of operating expenses. Under this later and current system, discretion and initiative vest not in the workman but in the owners of the plant, if anywhere. So that at this point the right of ownership has ceased to be, in fact, a guarantee of personal liberty to the common man, and has come to be, or is coming to be, a guarantee of dependence. All of which engenders a feeling of unrest and insecurity, such as to instill a doubt in the mind of the common man as to the continued expediency of this arrangement and of the prescriptive rights of property on which the arrangement rests.
There is also an insidious suggestion, carrying a sinister note of discredit, that comes in from ethnological science at this point; which is adapted still further to derange the common man's faith in this received institution of ownership and its control of the material equipment of industry. To students interested in human culture it is a matter of course that this material equipment is a means of utilising the state of the industrial arts; that it is useful in industry and profitable to its owners only because and in so far as it is a creation of the current technological knowledge and enables its owner to appropriate the usufruct of the current industrial arts. It is likewise a matter of course that this technological knowledge, that so enables the material equipment to serve the purposes of production and of private gain, is a free gift of the community at large to the owners of industrial plant;
and, under latterday conditions, to them exclusively. The state of the industrial arts is a joint heritage of the community at large, but where, as in the modern countries, the work to be done by this technology requires a large material equipment, the usufruct of this joint heritage passes, in effect, into the hands of the owners of this large material equipment.