the necessity of a certain rate of profit, and the tendency to the growth of exploitation.
It will be possible to remove these necessities and these tendencies when Socialist production is substituted for capitalist production, and social property is established in place of private property. The possibilities of this transition first arise in an advanced stage of capitalism, but not for all branches of industry at the same time. Railways, minus, and forests are by their nature suited to become social possessions, but most luxury trades will remain in private hands until a later period. The abolition of exploitation by means of socialisation can therefore only proceed gradually, and the whole of industry cannot be liberated at one stroke. On the other hand, many restrictions of the power of the employer, such as the eight-hour day or workers' councils, may be imposed upon the whole extent of industry at once.
The mass of surplus value in society, which is appropriated by the capitalist class, instead of falling to the workers or being used in the general interests of society, will not be diminished as a result of the increased power in the process of production which the working class secures, but will be decreased in the degree that the scope of the capitalist is narrowed by the socialisation of single branches of industry. It is quite impossible to cut away profit from those branches of industry, constantly diminishing in number, where capitalist production still exists, and may continue to exist for the present, before the private character of the ownership of such means of production is altered.
The abolition or even the visible restriction of profit in this sphere would clog production generally. Matters would only become worse if an attempt were made to restart businesses by means of a policy of terrorism. Where the employer is superfluous, industry should be socialised. Where he is still necessary, he cannot be compelled by force to manage his business in a reasonable and conscientious manner, just as the
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