Cost And Price; Or, the Product And the Market, An Analysis of the Nature of Costs And An Inquiry Into the Origin of Purchasing Power And Credits, Showing Their Limit in Paying the Price of Products And the Ever Increasing Necessity for Municipal And Indu

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Cost And Price; Or, the Product And the Market, An Analysis of the Nature of Costs And An Inquiry Into the Origin of Purchasing Power And Credits, Showing Their Limit in Paying the Price of Products And the Ever Increasing Necessity for Municipal And Indu
Isaiah Skeels
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There is no more reason in ascribing general high prices to a shortage in production and an increasing popu- lation than in charging the higher price of ice to a scarcity of water resulting from the increasing use of steam.
There is no shortage in the iron and steel supply, nor in coal, nor in oil; yet all have advanced in price. Even in the case of lumber every demand has been met by a supply, and salesmen are running over the country trying to find sale for yard-dried stock. Any prospect of a
... future shortage should have no more effect upon present prices than a low birth-rate and high death-rate should have on the wages paid for labor. The old law of ** supply and de- mand, '^ which political economists evolved for the pur- pose of regulating prices, must have been repealed, since many things most abundant in supply are still rising in price, while labor, equally in demand, is now tending down- ward when measured by other prices. In the language of Artemus Ward, **Why is this thus and why so much of this thusnessf Trusts and combines are charged with * boosting'' prices.

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