It is, I think, highly probable that, if any great modern nation should unanimously and wholeheartedly embark upon a thorough-going scheme of state socialism, the interests of the vast majority of individuals would be greatly promoted; they would be able to live more prosperously and comfortably with greater leisure and opportunity for higher forms of activity. It is, however, equally probable that the higher interests of the nation would be gravely endangered, that it would enter upon a period of increasing stagnation and diminishing vitality and, after a few generations had passed away, would have slipped far down the slope which has led all great societies of the past to destruction.
William McDougal F.R.S. “The Group Mind…etc.” ( Cambridge. 1921 ) p.15