Increasing fears confiscatory tax policies already have begun to discourage incentive and innovation. They seem to be undermining the Calvinist work ethic in The Netherlands.

It began as an outcry against “the dark satanic mills” of early capitalism, a shuddering reaction against the profound upheavals caused by the Industrial Revolution, a reassertion of the Utopian dream of the heavenly kingdom on earth. It sprang from obscure clubs, from workers’ associations, from garrets, libraries, bourgeois parlors…