Excerpt from Facts and Fallacies in Economics

It is rather the fact that to men filled with aspirations of a more or less indefinite nature - but which at root involve the quite primitive desire for more pay and less work - the Socialist has presented a vague policy for which neither the experience nor the economy of the past give justification, and the means of whose realisation he is unable to explain. Some of an all too credulous audience have swallowed his doctrines whole others have accepted them in parts, without considering the relation of those parts either to each other or to the entire economic system of the nation. It has remained for those who are fighting Socialism in principle to expose the false foundation upon which its practical exposition is based.

The Socialist can have no real complaint that he has been misrepresented, if, while still groping for the light, he holds out to his followers a will~o'-the-wisp which he well knows can only lure to disaster.

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