BOOK II

_WHAT CAPITALISM IS_

EVILS OF CAPITALISM 53 I. CAPITALISM IS STUPID 57 1. Overproduction 57 2. Unemployment 66 3. Prostitution 79 4. Strikes and Lockouts 86 5. Adulteration 88

II. CAPITALISM IS WASTEFUL 94 1. Getting the Market 95 2. Cross Freights 96

III. CAPITALISM IS DISORDERLY 101 1. Anarchy of Production and Distribution 102 (_a_) Tyranny of the Market 102 (_b_) Tyranny of the Trust 104 (_c_) Tyranny of the Trade Union 106

IV. PROPERTY AND LIBERTY 112 1. Origin of Property 113

V. RESULTS OF PROPERTY 131 1. The Guilds 135 2. Trade Unions 140 3. The Unsolved and Insoluble Problems of Trade Unionism 159 (_a_) The Conflict between the Trust and the Trade Union 167 (_b_) Advantage of Trusts over Unions 169 (_c_) Advantage of Unions over Trusts 171

VI. MONEY 176

VII. CAN THE EVILS OF CAPITALISM BE ELIMINATED BY COOPERATION 199