Private enterprise, indeed, became too private. It became privileged enterprise, not free enterprise.
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More striking still, it appeared that, if the process of concentration goes on at the same rate, at the end of another century we shall have all American industry controlled by a dozen corporations and run by perhaps a hundred men. Put plainly, we are steering a steady course toward economic oligarchy, if we are not there already.
A small group had concentrated into their own hands an almost complete control over other people's property, other people's money, other people's labor - other people's lives.
The savings of the average family, the capital of the small-businessmen, the investments set aside for old age - other people's money - these were tools which the new economic royalty used to dig itself in.
The main features and requirements of the basic economic law of modern capitalism might be formulated roughly, in this way: the securing of the maximum capitalist profit through the exploitation, ruin and impoverishment of the majority of the population of the given country, through the enslavement and systematic robbery of the peoples of other countries, especially backward countries, and, lastly, through wars and militarization of the national economy, which are utilized for the obtaining of the highest profits.
Only struggle educates the exploited class. Only struggle discloses to it the magnitude of its own power, widens its horizon, enhances its abilities, clarifies its mind, forges its will.
When feudalism was overthrown and "free" capitalist society appeared in the world, it at once became apparent that this freedom meant a new system of oppression and exploitation of the working people.
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