No capitalist can depend on the future; none can say with certainty whether he will be able to keep what he has and to leave it to his children.
The capitalist class itself is splitting up into two sets. The one, which increases steadily, is superfluous to industrial life; it has nothing to do but squander the growing quantity of surplus which flows into its hands. The other set, which consists of those who have not yet become superfluous in their establishments, decreases steadily, but in proportion to this decrease the cares and burdens of their situation grow heavier upon them. While the former set is degenerating in wasteful idleness, the latter is wearing itself out in the competitive struggle.
To both the specter of uncertainty is a growing menace. The modern system of production does not allow even the exploiters, even those who monopolize all its tremendous advantages, to enjoy their booty to the full.
8. Industrial Crises.
Great as is the uncertainty for all classes under our usual conditions, it is further increased by the crises which are periodically brought on, with the certainty of natural law, the moment production reaches a certain stage.
The importance which these crises have assumed during the last decades and the general confusion of thought that prevails concerning them justifies special attention.
The great modern crises which convulse the world's markets arise from overproduction,
