“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

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J.A. Hobson 26

English economist, social scientist and critic of imperiali… 1858–1940

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“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 (1858–1940) English economist, social scientist and critic of imperialism

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

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

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J.A. Hobson 26

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