of surplus
value or not, I do not describe them because they are of no particular
importance.

Socialism is not based upon the Marxian theory of value, but the Marxian
theory of value was evolved in an endeavor to fix a scientific basis for
a popular movement already fully under way. Socialism is not based
on reason, but emotion; not on reflection, but desire; it is not
scientific, but popular. If every Socialist on earth should concede that
the Marxian theory of surplus value had been knocked into smithereens,
it would have no more effect on the progress of Socialism than the
gentle zephyr of a June day on the hide of a rhinoceros. Socialism must
be attacked in the derived propositions about which popular discussion
centers, and the assault must be, not to prove that the doctrines are
scientifically unsound, but that they tend to the impoverishment and
debasement of the masses. These propositions are three, and I lay down
as my thesis--for I abhor defensive warfare--that

Rent is right,
Interest is right,
Profits are right,

and that they are all three ethically and economically justified, and
are in fact essential to the happiness and progress of the race, and
more especially to those who labor with their hands.

Now, first, rent: I confess that I have no patience with any one who
claims, as an inherent right, the exclusive ownership of any part of the
earth. He might as well claim ownership in a section of air. In this I
am very certain that I have the hearty concurrence of every member of
this Club. I am so sure of this, in fact, that I am going to make
that assumption, in which we all agree, the starting point of a little
dialogue, in which, after the manner of Plato, I will put Socrates at
one end of the discussion, and some of his friends, whom we will suppose
to be Phaedo, and Crito, and Simmias, and the rest at the other, and we
will let Socrates and Phaedo carry on the conversation, which might run
as follows:

SOCRATES--We are agreed, then, that no man has any right inherent in
himself to the ownership of land.

PHAEDO--Certainly, we agree to that. Such a thing is absurd, for the
earth is a gift to the human race, and not to particular men.

SOCRATES--I am glad that you think so, and am sure we shall continue to
agree. And if no one man has any right to exclusive ownership of land,
neither have any two men, since it is plain that neither could convey
to himself and another any right