"But the modern capitalist did not read fairy–tales, and never looked for the little omens at the turnings of the road. He (or the most intelligent section of him) had by now realised his position, and knew in his heart it was a false position. He thought a margin of men out of work was good for his business; he could no longer really think it was good for his country. He could no longer be the old “hard–headed” man who simply did not understand things; he could only be the hard–hearted man who faced them. But he still marched on; he was sure he had made no mistake. However, he had made a mistake—as definite as a mistake in multiplication. It may be summarised thus: that the same inequality and insecurity that makes cheap labour may make bad labour, and at last no labour at all. It was as if a man who wanted something from an enemy, should at last reduce the enemy to come knocking at his door in the despair of winter, should keep him waiting in the snow to sharpen the bargain; and then come out to find the man dead upon the doorstep."