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Imperialist war arises not merely because of bitter economic competition among industrialists and financiers of various nations, but because of the dominance of government by powerful vested interests who use the armed forces of the nation to increase their private gains in other lands. To the degree that the power of these groups is broken by socialization and equalization of economic privilege, the likelihood of war is thereby reduced.

The wastage from economic conflict is so titanic under individualism that even if gross productivity should be reduced somewhat under socialization of the basic industries, the mass of people would nevertheless be better off because of the diminished conflict and resultant devastation.

A social order in which the maximum legal income is not more than tenfold the minimum... and in which competition for private profit has been eliminated, and in which social motivations are more dominant, is certain to be a more harmonious community than can ever be created by economic individualism.

Why should men and women work efficiently under socialization? First, because they receive... a minimum income as high as the prevailing level of productivity permits. Second, because faithfulness, efficiency and special ability are rewarded with higher income. ...Third, because security is provided through a minimum or differential income or through social insurance. Fourth, because higher capabilities and deeper loyalties to the social good are rewarded with wider opportunities to administer responsibility and to wield power. ...Fifth, because increased economic security affords added opportunities for creative expression along numerous lines. Sixth, because social approval and applause are bestowed upon those members of the community who are carrying the heaviest burdens for the social welfare. Seventh, because social disapproval and social penalties are imposed upon members of the community who are chronically unwilling to carry a fair share of the cooperate load. Eighth, because a sense of duty and patriotic duty increases zest for socially useful activities. Ninth, because among truly religious people passionate concern for the common good transcends less worthy incentives, and diminishes the significance of other motivations.

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While it must be admitted that the class of rich absentee owners or investors would doubtless be far less interested in industry if the profit motive were eliminated or subordinated, they represent the group that makes the smallest actual contribution to efficiency in industry.

The actual participants in industry under individualism are prompted to action by the following combination of incentives: desire for an income, desire for a higher income, desire for security, satisfaction received from shouldering responsibility or from wielding power, the joy of participation in creative activity, and the desire for applause and prestige. ...And all these motivations may be conserved and strengthened under socialism.

The truth of the matter is that, even under individualism, only a small fraction of the population is impelled chiefly by the profit motive, and that vast multitudes of men and women are motivated by other incentives than by the desire for profit. ...nevertheless, they are strategic individuals whose activities are essential to efficiency in industry.