Both the League of Nations and the
United Nations proved to be feeble and ineffectual efforts to bridge the
gulf between limited national sovereignty and planet-wide order and
peace. But they were tentative steps in the direction of a federation of
the world and they did mark a notable advance from the chaos and
conflict incident to the planet-wide expansion of the European empires
toward more stable economic and social conditions and more orderly
international relationships.
Paralleling these changes in the political life of western civilization
there have been a number of drastic economic reforms. One was the
abolition of chattel slavery. A second was the replacement of serfdom
and peonage by free labor receiving fixed wages and salaries. A third
change was the division of large feudal estates and other concentrated
landed properties into small units owned and operated by working
farmers. A fourth change was the establishment of free trade areas
within and among sovereign states. A fifth innovation was the transfer
of individually operated and family businesses into associations and
corporations with limited liability and widespread ownership by bond and
stockholders. Sixth, trade unions and consumers' cooperatives were
recognized and legalized. Seventh, legal provisions were made for social
security against accident, sickness, unemployment, old age. Minimum
incomes were guaranteed.
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