Social Justice Without Socialism

The author argues that democratic principles should extend into economic life, urging state intervention to preserve healthy competition and to check both private and public monopolies without embracing complete socialism. He locates socialism's origin in a desire to carry democracy into industry, differentiates reformist from collectivist responses, and rejects extreme laissez-faire. The essay emphasizes technical progress and the growth of general production as matters of justice, since shrinking aggregate income harms many. Practical proposals include trust regulation, tariff reform, and conservation of resources to support private initiative while preventing concentrations of power that would reduce future prosperity.