by the introduction of machines into industry. Since their introduction our economic relations are subject to continual change, not only by the rapid dissolution of the old but by the continuous creation of the new. The idea of the old, of the past, ceases to be equivalent to the tested, to the honorable, to the inviolable. It becomes synonymous with the imperfect and the outgrown. This idea is transplanted from the economic life into the field of art and science and politics. Just as in earlier days people clung without reason to the old, so to-day one gladly throws the old aside without reason just because it is old. And the time which is necessary in order to make a machine, an institution, a theory outgrown becomes ever shorter. And if in former days men worked with the intention of building for eternity with all the devotedness that flows from such a consciousness, so to-day one works for the fleeting effect of a moment with all the frivolity of this consciousness. So that the creation of to-day is within a short time not simply unfashionable but also useless.
The new is, however, just that thing that one observes, criticizes and investigates the most closely. The ordinary and the commonplace pass as a matter of course. Mankind studied the causes of eclipse much earlier than the rising and setting of the sun. In the same way the incentive to investigate the laws of social phenomena was very slight so long as these phe-
