it Economic Determinism, which seems to me a much better and more exact name. Ferri points out that we must not forget the intellectual factor and the various other factors, which though they are themselves determined by the economic factor, in their turn become causes acting concurrently with the economic factor. Loria deals with this whole subject most exhaustively and interestingly in his recently translated book "The Economic Foundations of Society." Curiously enough in this long book he never once gives Marx the credit of having discovered this theory, but constantly talks as though he—Loria—had revealed it to a waiting world. The method of his book is the reverse of scientific, as he first states his theory and conclusions and then starts to scour the universe for facts to support them, instead of first collecting the facts and letting them impose the theory upon his mind. And his book is by no means free from inconsistencies and contradictions. But while you cannot place yourselves unreservedly and confidingly in his hands as you can in those of Karl Marx, still his book has much value. He shows most interestingly how all the connective institutions, as he calls religious and legal and political institutions, have been moulded in the interest of the economically dominant class, and how useful they have been in either persuading or forcing the so-called "lower classes" to submit to the economic conditions that were absolutely against their interests. But the system of Wage Slavery is such a beautifully automatic system, itself subjugating the workers and leaving them no choice, that I cannot see that the capitalists have any further need of any of these connective institutions save the State. At all events, these institutions are fast losing their power over the minds of men. But the most valuable part of his book is the immense mass of evidence he has collected showing how political sovereignty follows economic sovereignty or rather, revenue, and how all past history has been made up of a series of contests between various kinds of revenue, particularly between rent from landed property and profits from industrial or manufacturing capital, but as this is nothing more than the Class Struggle between the landed aristocracy and the bourgeoisie, a struggle sketched by master hands in the Communist Manifesto of Marx and Engels, we can give Loria no credit for originality, but merely praise his industry in collecting evidence.

Gabriel Deville, who has probably done more than any one else to popularize the ideas of Marx in France, has pointed out a very nice distinction here. Man, like all living beings, is the product of his environment. But while animals are affected only by the natural environment, man's brain, itself a product of the natural environment, becomes a cause, a creator, and makes for man an economic environment, so that man is acted on by two environments, the natural environment which has made man and the economic environment which man has made. Now in the early stages of human development, it is the natural environment, the fertility of the soil, climatic conditions, abundance of game, fish, etc., which is all-important, but with the progress of civilization, the natural environment loses in relative importance, and the economic environment (machinery, factories, improved appliances, etc.) grows in importance until in our day the economic environment has become well nigh all-important. Hence the inadequacy of the Henry George theory which places all its stress on one element of the natural environment, land, and wholly neglects the dominant economic environment.

But while this economic environment, the dominant factor in human life, is the child of the brain of man, man in its creation has been forced to work within strict limitations. He had to make it out of the materials furnished him in the first place by the natural environment and later by the natural environment and the inherited economic environment, so that in the last analysis the material and economic factors are supreme.

We Marxians are often accused of neglecting the intellectual factor and, as Deville says, a whole syndicate of factors; but we do not neglect them. We recognize their existence and their importance, but we do refuse to waste our revolutionary energy on derivative phenomena when we are able to see and recognize the decisive, dominant factor, the economic factor. As Deville says, we do not neglect the cart because we insist upon putting it behind the horse instead of in front of or alongside of him, as our critics would have us do. Now, if the economic factor is the basic factor, it behooves us to understand the present economic system—Marx's Law of Surplus-Value is the key to this system.

II

The Law of Surplus-value

The second great idea that we associate with the name of Karl Marx is the Law of Surplus-Value. Curiously enough this one technical theory is the only discovery that bourgeois writers and economists give Marx credit for. If you look up Marx in any ordinary encyclopedia or reference book you will find they make his fame depend on this theory alone, and to make matters worse they usually misstate and misrepresent this theory, while they invariably fail to mention his two other equally great, if not greater discoveries, the Materialistic Conception of History and the Class Struggle. I think the reason they give special prominence to this law of Surplus-Value is that, as it is a purely technical theory in economics, it is easier to obscure it with a cloud of sophistry and persuade their willing dupes that they have refuted it. And then they raise the cry that the foundation of Marxian Socialism has been destroyed and that the whole structure is about to tumble down on the heads of its crazy defenders, the Socialists. It is much to be regretted that many so-called Socialists are found foolish enough to play into the hands of the Capitalists by joining in the silly cry that some pigmy in political economy has overthrown the Marxian theory of Value. I suppose these so-called Socialists are actuated by a mad desire to be up to date, to keep up with the intellectual band-wagon. Revolutions in the various sciences have been going on so rapidly, they fancy that a theory that was formulated forty years ago must be a back-number, and so they hasten to declare their allegiance to the last new cloud of sophistry, purporting to