As I looked, horror struck, from one death's head to another, I was affected by a singular hallucination. Like a wavering translucent spirit face sup… - Edward Bellamy

There is neither private property, beyond personal belongings, now, nor buying and selling, and therefore the occasion of nearly all the legislation formerly necessary has passed away. Formerly, society was a pyramid poised on its apex. All the gravitations of human nature were constantly tending to topple it over, and it could be maintained upright, or rather upwrong (if you will pardon the feeble witticism), by an elaborate system of constantly renewed props and buttresses and guy-ropes in the form of laws. A central Congress and forty state legislatures, turning out some twenty thousand laws a year, could not make new props fast enough to take the place of those which were constantly breaking down or becoming ineffectual through some shifting of the strain. Now society rests on its base, and is in as little need of artificial supports as the everlasting hills.

The industry and commerce of the country, ceasing to be conducted by a set of irresponsible corporations and syndicates of private persons at their caprice and for their profit, were entrusted to a single syndicate representing the people, to be conducted in the common interest for the common profit. The nation, that is to say, organized as the one great business corporation in which all other corporations were absorbed; it became the one capitalist in the place of all other capitalists, the sole employer, the final monopoly in which all previous and lesser monopolies were swallowed up, a monopoly in the profits and economies of which all citizens shared.

Your system was liable to periodical convulsions...business crises at intervals of five to ten years, which wrecked the industries of the nation.