not? But again, it is not a matter of choice. Technology has brought our present system to its doom. There is no way out except by fundamental revision.”

In the January, 1933, Harper’s Magazine, the first and leading article, entitled “Technology Smashes the Price System,” practically an editorial, goes exhaustively into the subject and confirms all that is stated above. The following is the final paragraph:

“What is immediately before us? Steadily debt rises and unemployment falls. The great corporations which depended on their surplus to pay their interest and dividends in hard times are almost stripped bare. Taxes will become increasingly difficult to collect, but at the same time a dole will be necessary to stave off starvation. The tide of bankruptcies will continue to mount; the cities helpless to cope with the tax situation will drift into bankruptcy themselves. There will be debt holidays and desperate attempts for ‘cheap money.’ Such flounderings profit us nothing. Our old system is done for, and the nation has got to swallow the fact that the price system is completely played out. We need look for no help from Republicans, Democrats, Socialists, Fascists, or Communists; for each group in its way is devoted to the price system. A new system based upon a recognition of our available energy must be devised. That is the problem before the people. It can be done. Are we going to set about it before it is too late?”

We earnestly urge all who can do so to read the articles mentioned in both The New Outlook and Harper’s Magazine, in order to get a complete view of the situation as the Technocrats see it.

From these excerpts from the articles mentioned we have tried to indicate clearly the following inescapable conclusions:

1. That we have unquestionably arrived at the end of an era that dates back to the beginning of history—the history of the price system.