Until this is the case the prices of the international market determine the standard of wages.
The nation which leaves this out of account, and tries to settle independently wages and working hours, runs the risk of losing its position in the international market in competition with nations who work longer hours and at lower rates.

Want of employment and extreme misery among the working classes would inevitably be the result.

On the other hand, the internationalization of industries would soon, by excluding and preventing any competition, produce a deterioration of products and a profound demoralization of the working population.
The case of the scheme for universal peace is similar.

Its execution, as we saw, would be only feasible in a world empire, and this is as impossible as the uniform regulation of the world's industries.

A State which disregarded the differently conceived notions of neighbouring countries, and wished to make the idea of universal peace the guiding rule for its policy, would only inflict a fatal injury on itself, and become the prey of more resolute and warlike neighbours.
We can, fortunately, assert the impossibility of these efforts after peace ever attaining their ultimate object in a world bristling with arms, where a healthy egotism still directs the policy of most countries.