of society; vices otherwise inconceivable become common, and fester in the mass of society; culture is lost; education dies out; the arts and sciences decline. All this follows for the most simple and obvious of all reasons: because a man whose whole soul is absorbed in a struggle to get enough to eat, will give up his manners, his morals, his education, or that of his children, and will thus, step by step, withdraw from and surrender everything else in order simply to maintain existence. Indeed, it is a fact of familiar knowledge that, under the stress of misery, all the finer acquisitions and sentiments slowly but steadily perish.
The converse of this statement, however, is true; and it is for the sake of the converse that we have now set forth what has already been said. If the subsistence of men is in excess of the number of men, all the opposite results are produced, for in that case the demand is in excess of the supply. The all-important thing under supply and demand is to know how the conjuncture stands. The party in the market whose demand for the goods of others is low while their demand for his goods is high, has command of the market, and the conjuncture is said to be in his favor; on the other hand, he whose demand for the products of others is high, while their demand for his products is low, is at a disadvantage in the market, and the conjuncture is against him. He, therefore, who brings only his natural, unskilled powers to market, when many others are offering the same thing, will win but meager subsistence from the stock of food, clothing, etc., in the market; on the other hand, he who brings personal services to market, when human energy is eagerly wanted to develop land and apply capital at the hand of those who possess land and capital, will be able to demand
