Twenty Lectures on Social Sciences.

Summary

In the feudal era, diligence and frugality were believed to foster prosperity, but capitalism has transformed this notion into folly. Unlike handicraft-based societies where a poor craftsman could eventually own production means, capitalism requires substantial capital for machines and factories, rendering frugality ineffective for wealth accumulation. Instead, wealth now often stems from unscrupulous methods like extortion. Workers, stripped of property rights, must sell their labor, leading to exploitation and inequality. Capitalists prioritize profit over societal needs, creating a divide where laborers face harsh conditions. Ultimately, capitalism is characterized by wage labor, mass production, and an unequal social structure, contrasting sharply with the self-sufficient economies of the past.

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