the vested interests and the common man-第12章
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knowledge; which the community has the use of。 This sets the
limit; determines the 〃maximum〃 production of which the community
is capable。 The actual production in such a community will then
be determined by the extent to which the available technological
efficiency is turned to account; which is regulated in part by
the intelligence; or 〃education;〃 of the working population; and
in greater part by market conditions which decide how large a
product it will be profitable for the business men to turn out。
The net product is the amount by which this actual production
exceeds its own cost; as counted in terms of subsistence; and
including the cost of the necessary mechanical equipment; this
net product will then approximately coincide with the annual
keep; the cost of maintenance and replacement; of the investors
or owners of capitalised property who are not engaged in
productive industry; and who are on this account sometimes spoken
of as the 〃kept classes;〃 Indeed; it would seem that the number
and average cost per capita of the kept classes; communibus
annis; affords something of a rough measure of the net product
habitually derived from the community's annual production。
The state of the industrial arts; therefore; is the
indispensable conditioning circumstance which determines the
productive capacity of any given community; and this is true in a
peculiar degree under this new order of industry; in which the
industrial arts have reached an unexampled development。 The same
decisive factor may also be described as 〃the community's joint
stock of technological knowledge。〃 This common stock of
technological knowledge decides what will be the ordinary ways
and means of industry; and so it decides what will be the
character and volume of the output of product which a given man
power is capable of turning out。 Evidently no man power and no
working population can turn out any annual product without the
use of something in the way of technological knowledge; that is
to say some state of the industrial arts。 The working community
is a productive factor only by virtue of; and only up to the
limit set by; the state of the industrial arts which it has the
use of。 The contrast of industrial Japan or of industrial Germany
before the middle of the nineteenth century and after the close
of the century will serve for illustration; that is to say before
and after those peoples had come in for the use of the technology
of the machine era。 The disposable excess of the yearly product
over cost is a matter of the efficiency of the available state of
technological knowledge; and of the measure in which the working
population is put in a position to make use of it。 These; of
course; are obvious facts; which it should scarcely be necessary
to recite; except that they are habitually overlooked; perhaps
because they are obvious。
The Industrial Revolution of the eighteenth century was a
revolution in the state of the industrial arts; of course; it was
a mutation of character in the common stock of technological
knowledge held and used by the industrial population of the
civilised countries from that time forward。 The shift from the
older to the new order of industry was of such a nature as to
call for the use of an extensive equipment of mechanical
apparatus; progressively more and more extensive as the change to
the machine technology went on; and at the same time the
disposable margin of product above cost also progressively went
on increasing with each further increase of the community's joint
stock of technological knowledge。
This body of technological knowledge; the state of the
industrial arts; of course has always continued to be held as a
joint stock。 Indeed this joint stock of technology is the
substance of the community's civilisation on the industrial side;
and therefore it constitutes the substantial core of that
civilisation。 Like any other phase or element of the cultural
heritage; it is a joint possession of the community; so far as
concerns its custody; exercise; increase and transmission; but it
has turned out; under the peculiar circumstances that condition
the use of this technology among these civilised peoples; that
its ownership or usufruct has come to be effectually vested in a
relatively small number of persons。 Unforeseen and undesigned;
the mechanical circumstances of the new order in industry have
reversed the practical effects of the common law in respect of
self…help; equal opportunity and free bargaining。 The mechanics
of the case has worked out this result by cutting away the ground
on which those principles were based at the time of their
acceptance and installation。
The machine technology requires for its working a large and
specialised mechanical apparatus; an ever increasingly large and
increasingly elaborate material equipment。 So also it requires a
large and diversified supply of material resources; both in raw
materials and in the way of motive power。 It is only on condition
that these requirements are met in some passable fashion that
this industrial system will work at all; and it is only as these
requirements are freely met that the machine industry will work
at a high efficiency。 At the same time the settled principles of
law and usage and public policy handed down from the eighteenth
century have in effect decided; and continue to decide; that all
material wealth is; rightly; to be held in private ownership; and
is to be made use of only subject to the unhampered discretion of
the legally rightful owner。 Meantime the highly productive state
of the industrial arts embodied in the technological knowledge of
the new order can be turned to account only by use of this
material equipment and these natural resources which continue to
be held in private ownership。 From which it follows that these
material means of industry; and the state of the industrial arts
which these material means are to serve; can be turned to
productive use only so far and on such conditions as the rightful
owners of the material equipment and resources may choose to
impose; which enables the owners of this indispensable material
wealth; in effect; to take over the use of these industrial arts
for their own sole profit。 So that the usufruct of the
community's technological knowledge has come to vest in the
owners of such material wealth as is held in sufficiently large
blocks for the purpose。
Therefore; by award of the settled principles of equity and
self…help embodied in the modern point of view; as stabilised in
the eighteenth century; the owners of the community's material
resources that is to say the investors in industrial business
have in effect become 〃seized and possessed of〃 the
community's joint stock of technological knowledge and
efficiency。 Not that this accumulated knowledge of industrial
forces and processes has passed into the intellectual keeping of
the investors and been assimilated into their mentality; even to
the extent of a reasonably scanty modicum。 It remains true; of
course; that the investors; owners; kept classes; or whatever
designation is preferred; are quite exceptionally ignorant of all
that mechanics of industry whose usufruct is vested in them; they
are; in effect; fully occupied with other things; and their
knowledge of industry ordinarily does not; and need not; extend
to any rudiments of technology or industrial process。 It is not
as intelligent persons; but only as owners of material ways and
means; as vested interests; that they come into the case。 The
exceptions to this rule are only sufficiently numerous to call
attention to themselves as exceptions。
As an intellectual achievement and as a working force the
state of the industrial arts continues; of course; to be held
jointly in and by the community at large; but equitable title to
its usufruct has; in effect; passed to the owners of the
indispensable material means of industry。 Though not hitherto by
formal specification and legal provision; their assets include;
in effect; the sta