Spencer Heath Archive

Item 520

We may, perhaps, think of a proprietary community in which the inhabitants so highly differentiate themselves that there are but two economic classes, namely, the owners of all the capital properties, meaning all the property in the course of production and trade, and the owners only of labor, meaning all the labor for which a wage or measured recompense is paid. These two classes would then together create the national income, the owners giving into the exchange system only administrative service and receiving money or exchange credits or charges against the general markets in the form of profits or dividends, and the laborers giving only wage or gauged services. /Check this last sentence against the original./