Olaf Stapledon, Star Maker (1937).
In this world, as in our own, nearly all the chief means of production, nearly all the land, mines, factories, railways, ships, were controlled for private profit by a small minority of the population. These privileged individuals were able to force the masses to work for them on pain of starvation. The tragic farce inherent in such a system was already approaching. The owners directed the energy of the workers increasingly toward the production of more means of production rather than to the fulfilment of the needs of individual life. For machinery might bring profit to the owners; bread would not. With the increasing competition of machine with machine, profits declined, and therefore wages, and therefore effective demand for goods. Marketless products were destroyed, though bellies were unfed and backs unclad. Unemployment, disorder, and stern repression increased as the economic system disintegrated. A familiar story!
As conditions deteriorated, and the movements of charity and state-charity became less and less able to cope with the increasing mass of unemployment and destitution, the new pariah-race became more and more psychologically useful to the hate-needs of the scared, but still powerful, prosperous. The theory was spread that these wretched beings were the result of secret systematic race-pollution by riff-raff immigrants, and that they deserved no consideration whatever. They were therefore allowed only the basest forms of employment and the harshest conditions of work. When unemployment had become a serious social problem, practically the whole pariah stock was workless and destitute. It was of course easily believed that unemployment, far from being due to the decline of capitalism, was due to the worthlessness of the pariahs.