"As to their economical conceptions, the anarchists, in common with all socialists, of whom they constitute the left wing, maintain that the now prevailing system of private ownership in land, and our capitalist production for the sake of profits, represent a monopoly which runs against both the principles of justice and the dictates of utility. They are the main obstacle which prevents the successes of modern technics from being brought into the service of all, so as to produce general well-being. The anarchists consider the wage-system and capitalist production altogether as an obstacle to progress. But they point out also that the state was, and continues to be, the chief instrument for permitting the few to monopolize the land, and the capitalists to appropriate for themselves a quite disproportionate share of the yearly accumulated surplus of production. Consequently, while combating the present monopolization of land, and capitalism altogether, the anarchists combat with the same energy the state, as the main support of that system. Not this or that special form, but the state altogether, whether it be a monarchy or even a republic governed by means of the referendum.
The state organization, having always been, both in ancient and modern history (Macedonian Empire, Roman Empire, modern European states grown up on the ruins of the autonomous cities), the instrument for establishing monopolies in favour of the ruling minorities, cannot be made to work for the destruction of these monopolies. The anarchists consider, therefore, that to hand over to the state all the main sources of economical life - the land, the mines, the railways, banking, insurance, and so on - as also the management of all the main branches of industry, in addition to all the functions already accumulated in its hands (education, state-supported religions, defence of the territory, etc.), would mean to create a new instrument of tyranny. State capitalism would only increase the powers of bureaucracy and capitalism. True progress lies in the direction of decentralization, both territorial and functional, in the development of the spirit of local and personal initiative, and of free federation from the simple to the compound, in lieu of the present hierarchy from the centre to the periphery. "