Chapter 2: Regulating and Deregulating the Transformations
The bourgeoisie, during its rule of scarce one hundred years, has created more massive and more colossal production forces than have all the preceding generations together. Subjection of nature’s forces to man, machinery, applications of chemistry to industry and agriculture, steam navigation, railways, electric telegraphs, clearing of whole continents for cultivation, canalisation of rivers, whole populations conjured out of the ground - what earlier century had event a presentiment that such production forces slumbered in the lap of social labour? Karl Malx and Friedrich Engels Improved communication has played havoc with the European system of Metternich and of the Holy Alliance. The diffusion of intelligence by the postoffice and the telegraph has forced the most conservative authorities to move. The rush of travel has broken down the passport system. The extension of trade is forcing us into unity of money, weights, and measures. It has prevented each nation from settling its own problems by itself.’ Arthur T. Hadley If human nature felt no temptation to take a chance, no satisfaction (profit apart) in constructing a factory, a railway, a mine or a farm, there might not be much investment merely as a result of cold calculation.* John Maynard Keynes In earlier history, wealth was measured in land, in gold, in oil, in machines. Today, the principal measure of our wealth is information: its quality, and the speed with which we acquire it and adapt it. The truth of our age is this, and must be this: open and competitive commerce...
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