Furthermore, the assumption is worth making, in case the traditional American system is breaking down, because a more highly socialized democracy is the only practical substitute on the part of convinced democrats for an excessively individualized democracy.

Of course, it will be claimed that the traditional system is not breaking down, and again no absolute proof of the breakdown has been or can be alleged.

Nevertheless, the serious nature of contemporary American political and economic symptoms at least pointedly suggests the existence of some radical disease, and when one assumes such to be the case, one cannot be accused of borrowing trouble, I shall, consequently, start from such an assumption, and make an attempt to explain contemporary American problems as in part the result of the practice of an erroneous democratic theory.

The attempt will necessarily involve a brief review of our political and economic history, undertaken for the purpose of tracing the traditional ideas of their origin and testing them by their performances.

There will follow a detailed examination of current political and economic problems and conditions--considered in relation both to the American democratic tradition and to the proposed revision thereof.