"Crude thinkers in the United States, and moreover honest and intelligent men who are not crude thinkers, but who are oppressed by the sight of the misery around them and have not deeply studied what has been done elsewhere, are very apt to adopt as their own the theories of European Marxian Socialists of half a century ago, ignorant that the course of events has so completely falsified the prophecies contained in these theories that they have been abandoned even by the authors themselves."