Francis D Longe On the Wage Fund Theory 1866
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per pound; in other words, that there were persons able and willing to buy the whole supply at that price rather than go without. If the butchers, instead of selling their beef at Is.^ sold it at 8d. per pound, a portion of the supply would prohably fall into the hands of other purchasers, viz. a poorer class, who would not have given a shilling per pound. If it did, the supply would be diminished without satisfying the demand of those persons who would have paid the higher price for it.
But if... these persons would have bought the whole supply for Is., some of them would prohably be ready to give a still higher price for the smaller quantity which was left for them.
In such case a counter-competition would commence on the part of the consumers or purchasers of beef, and the price would rise.
Suppose, on the other hand, that the commodity was labour, or rather 'labourers,' as Mr. Mill puts it, and that the la- bourers were workmen seeking employment in some common productive trade. In the first place, the capitalists, or possi- ble purchasers or employers, would be a very limited body, so that however low might be the rate of wage at which some 30 Peanois D.
What to read after Francis D Longe On the Wage Fund Theory 1866?
You can find similar books in the "Read Also" column, or choose other free books by Francis Davy Longe to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
per pound; in other words, that there were persons able and willing to buy the whole supply at that price rather than go without. If the butchers, instead of selling their beef at Is.^ sold it at 8d. per pound, a portion of the supply would prohably fall into the hands of other purchasers, viz. a poorer class, who would not have given a shilling per pound. If it did, the supply would be diminished without satisfying the demand of those persons who would have paid the higher price for it.
But if... these persons would have bought the whole supply for Is., some of them would prohably be ready to give a still higher price for the smaller quantity which was left for them.
In such case a counter-competition would commence on the part of the consumers or purchasers of beef, and the price would rise.
Suppose, on the other hand, that the commodity was labour, or rather 'labourers,' as Mr. Mill puts it, and that the la- bourers were workmen seeking employment in some common productive trade. In the first place, the capitalists, or possi- ble purchasers or employers, would be a very limited body, so that however low might be the rate of wage at which some 30 Peanois D.
What to read after Francis D Longe On the Wage Fund Theory 1866?
You can find similar books in the "Read Also" column, or choose other free books by Francis Davy Longe to read onlineMoreLess
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