J.A. Hobson: Industry

“Industrial progress would undoubtedly be slower under state-control, because the very object of such control is to divert a larger proportion of human genius and effort from these occupations in order to apply them in producing higher forms of wealth.”

J.A. Hobson

The Evolution of Modern Capitalism: A Study of Machine Production (1906), Ch. XVII Civilisation and Industrial Development
Context: Industrial progress would undoubtedly be slower under state-control, because the very object of such control is to divert a larger proportion of human genius and effort from these occupations in order to apply them in producing higher forms of wealth. It is not, however, right to assume that progress in the industrial arts would cease under state-industry; such progress would be slower, and would itself partake of a routine character—a slow, continuous adjustment of the mechanism of production and distribution to the slowly-changing needs of the community.<!--section 11, p. 422

Effort , Wealth

“History does not show greed of gain as the motive of the great steps in industrial progress.”

J.A. Hobson

The Evolution of Modern Capitalism: A Study of Machine Production (1906), Ch. XVII Civilisation and Industrial Development
Context: History does not show greed of gain as the motive of the great steps in industrial progress. The love of science, the pure delight of mechanical invention, the attainment of some slight personal convenience in labour, and mere chance, play the largest part in the history of industrial improvements. These motives would be as equally operative under state-control as under private enterprise.<!--section 11, p. 419

History , Motivation

“Under socialized industry progress in the industrial arts would be slower and would absorb a smaller proportion of individual interest, in order that progress in the finer intellectual and moral arts might be faster, and might engage a larger share of life.”

J.A. Hobson

The Evolution of Modern Capitalism: A Study of Machine Production (1906), Ch. XVII Civilisation and Industrial Development
Context: Under socialized industry progress in the industrial arts would be slower and would absorb a smaller proportion of individual interest, in order that progress in the finer intellectual and moral arts might be faster, and might engage a larger share of life.<!--section 11, p. 421

Life , Art

“We now stand face to face with the main objection so often raised against all endeavours to remedy industrial and social diseases by the expansion of public control. …The strife, danger, and waste of industrial competition are necessary conditions to industrial vitality.”

J.A. Hobson

The Evolution of Modern Capitalism: A Study of Machine Production (1906), Ch. XVII Civilisation and Industrial Development
Context: We now stand face to face with the main objection so often raised against all endeavours to remedy industrial and social diseases by the expansion of public control.... The strife, danger, and waste of industrial competition are necessary conditions to industrial vitality.<!--section 11, p. 417

Disease

“Industrial history shows that in modern competitive industry the motive of personal gain is most wastefully applied. On the one hand, the great mass of intelligent workers have no opportunity of securing an adequate reward for any special application of intelligence in mechanical invention or other improvement of industrial arts. Few great modern inventors have made money out of their inventions. On the other hand, the entrepreneur, with just enough business cunning to recognise the market value of an improvement, reaps a material reward which is often enormously in excess of what is economically required to induce him to apply his "business" qualities to the undertaking.”

J.A. Hobson

The Evolution of Modern Capitalism: A Study of Machine Production (1906), Ch. XVII Civilisation and Industrial Development

Money , Art , History , Intelligence

“Much individual enterprise in industry does not make for industrial progress. A larger and larger proportion of the energy given out in trade competition is consumed in violent warfare between trade rivals and is not represented either in advancement of industrial arts or in increase of material wealth.”

J.A. Hobson

Section 11, p. 418-419
The Evolution of Modern Capitalism: A Study of Machine Production (1906), Ch. XVII Civilisation and Industrial Development

Art , Wealth

“The substitution of industrialism for warfare is not… understood to imply a diminution of individual enterprise, but an alteration in its application.”

J.A. Hobson

section 11, p. 420
The Evolution of Modern Capitalism: A Study of Machine Production (1906), Ch. XVII Civilisation and Industrial Development