I. Historical Requirements of the Present Time

How much has been proclaimed in social science in order to comprehend these three concepts! Whoever knows what has arisen in the second half of the nineteenth century on the subject of a scientific national economy, trying to penetrate these concepts of commodity, labor, and capital, knows the impossible science the economists have achieved. It is totally inadequate. I have recently quoted a neat example of this. The famous Professor Lujo Brentano, the luminary of national economic science in middle Europe at the present time, has recently written an article entitled, The Entrepreneur, in which he develops three marks of distinction for the enterpriser. I shall only mention the third one, the use of the means of production at one's own risk. The enterpriser is the owner of the means of production and undertakes production for the market at his own risk. Now, Brentano so formulates his concept in that article that he is able to designate a further enterpriser beside the manufacturer and industrialist, namely, the modern laborer. The workman is an enterpriser because he has the means of production, that is, his own labor-force, and this he offers on the market at his own risk. Mr. Brentano's concept of the enterpriser is crystal clear as it includes the laborer among the enterprisers. This shows how clever modern economic science is! It is ridiculous. But people are not willing to ridicule such matters because the universities still take the leading positions in spiritual life. Yet this is what universities produce in the field of national economy. People do not have the courage to confess that what is produced in this field is ridiculous. Matters are really dreadful.