Excerpt from Recent Economic Changes and Their Effect on the Production and Distribution of Wealth, and the Well-Being of Society
The economic changes that have occurred during the last quarter of a century-or during the present generation of living men - have unquestionably been more important and varied than during any former corresponding period of the world's history. It would seem, indeed, as if the world, during all the years since the inception of civilization, has been working up on the line of equipment for industrial effort - inventing and perfecting tools and machinery, building workshops and factories, and devising instrumentalities for the easy intercommunication of persons and thoughts, and the cheap exchange of products and services; that this equipment having at last been made ready, the work of using it has, for the first time in our day and generation, fairly begun; and also that every community under prior or existing conditions of use and consumption, is becoming saturated, as it were, with its results.
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