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Veblen calls, "some excursion into pragmatic romance,"[1] such as Social Settlements, Prohibition, Clean Politics, Single Tax, Arts and Crafts, Neighborhood Guilds, Institutional Church, Christian Science, New Thought, Hearstism, or "some such cultural thimble-rig." Yet more, there are many of the "educated and professional classes" who call themselves socialists, because they cherish the charming delusion that it is possible to separate the positive from the negative ideals of Socialism, and to work (in a dilettante fashion) for the former while blithely anathematizing the latter.

It is the purpose of this paper to show that Socialism is not a scheme for the betterment of humanity to be accomplished by a sufficiently zealous and intelligent propaganda, but that it is, on the contrary, a consistent, (though to many repellent) monistic philosophy of the cosmos; that it is from its Alpha to its Omega so closely and inextricably interlocked that its component parts cannot be disassociated, save by an act of intellectual suicide; that, in a word, the Nihilism[2]

  1. "The Theory of Business Enterprise," Veblen, New York, 1904. Pages 351, 352. See also my article on Veblen the Revolutionist, International Socialist Review, June, 1905, vol. V, page 726.
  2. Throughout this article "nihilism" is not used in