Animal Spirits: Elite Confidence Shaken & Social Change Recognized

“In the domain of Political Economy, free scientific inquiry meets not merely the same enemies as in all other domains. The peculiar nature of the materials it deals with, summons as foes into the field of battle the most violent, mean and malignant passions of the human breast, the Furies of private interest. The English Established Church, e.g., will more readily pardon an attack on 38 of its 39 articles than on 1/39 of its income. Now-a-days atheism is culpa levis [a relatively slight sin, c.f. mortal sin], as compared with criticism of existing property relations.

 Nevertheless, there is an unmistakable advance. I refer, e.g., to the Blue book published within the last few weeks: ‘Correspondence with Her Majesty’s Missions Abroad, regarding Industrial Questions and Trades’ Unions.’ The representatives of the English Crown in foreign countries there declare in so many words that in Germany, in France, to be brief, in all the civilised states of the European Continent, radical change in the existing relations between capital and labour is as evident and inevitable as in England. At the same time, on the other side of the Atlantic Ocean, Mr. Wade, vice-president of the United States, declared in public meetings that, after the abolition of slavery, a radical change of the relations of capital and of property in land is next upon the order of the day.

 These are signs of the times, not to be hidden by purple mantles or black cassocks. They do not signify that tomorrow a miracle will happen. They show that, within the ruling classes themselves, a foreboding is dawning, that the present society is no solid crystal, but an organism capable of change, and is constantly changing.

 Marx, Economic Manuscripts: Capital Vol. I – 1867 Preface.

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