is a grotesque distortion of, and
an unjustified protest against, the fact that manufacturers and other
organisers and directors of labour will not work for nothing.

We have seen in the foregoing that, according to the fundamental
Socialist doctrines, "labour is the only source of wealth." We have
also seen that, according to the "Iron Law of Wages" and the "Law of
Increasing Misery," the workmen are condemned to great, permanent, and
constantly increasing misery. Further, we have learned that, according
to the "Surplus-Value Doctrine," all the fruit of their labour, minus
the cost of their bare subsistence, is taken from the workers by the
capitalists. Hence it is only natural and logical that the assertion
of the fundamental doctrines, namely--

1. Labour is the only source of wealth,
2. Wages maintains mere animal existence,
3. The misery of the workers is constantly increasing,
4. The position of the worker is hopeless,

has led to this fifth doctrine:

THE LABOURER IS ENTITLED TO THE ENTIRE PRODUCT OF HIS LABOUR

This doctrine is put forth by practically all British Socialists, not
only as a doctrine but also as a demand. For instance "the New School
of Trades-Unionists declare themselves in open and uncompromising
revolt against the established relations between capital and labour;
and they expound a new political economy which says that nothing less
than the full fruits of industry shall be reckoned the fair reward of
the producing class. They want the whole four-fourths of their
earnings, instead of the one-fourth at present doled back in
wages."[187] This demand must have precedence over all other measures
whatsoever, for "until you have settled the material question as to
how the producers of wealth are to get for themselves the full value
of what they produce by their labour, it is impossible to settle
anything else."[188]

According to many Socialists, Socialism would immediately abolish
their grievances and give to the worker the entire produce of his
labour. "At present the frugal workman only gets about one-third of
his earnings. Under Socialism he would get all his earnings."[189]
"Under the new order all will be productive workers, receiving an
equivalent for what they produce--not merely one-half of it as now
under the wage-system--in some form."[190] Under the heading "Basis of
the Fabian Society," the Fabian Society publishes a statement of the
fundamental principles of that Societ