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[The following is an excerpt from Bertrand Russell’s Presidential Address, The Need for Political Scepticism, which was delivered to the Student’s Union of the London School of Economics and Political Science on October 10, 1923.]

It is a natural propensity to attribute misfortune to someone’s malignity. When prices rise, it is due to the profiteer; when wages fall, it is due to the capitalist. Why the capitalist is ineffective when wages rise, and the profiteer when prices fall, the man in the street does not inquire. Nor does he notice that wages and prices rise and fall together. If he is a capitalist, he wants wages to fall and prices to rise; if he is a wage earner, he wants the opposite. When a currency expert tries to explain that profiteers and trade unions and ordinary employers have very little to do with the matter, he irritates everybody, like the man who threw doubt on German atrocities. We do not like to be robbed of an enemy; we want someone to have when we suffer. It is so depressing to think that we suffer because we are fools; yet, taking mankind in the mass, that is the truth. For this reason, no political party can acquire any driving force except through hatred; it must hold up someone to obloquy. If so-and-so’s wickedness is the sole cause of our misery, let us punish so-and-so and we shall be happy. The supreme example of this kind of political thought was the Treaty of Versailles. Yet most people are only seeking some new scapegoat to replace the Germans.

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