Getting And Spending An Introduction to Economics

Cover Getting And Spending An Introduction to Economics
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It is not true, in the first place, that there is in any country, at any time, a certain amount of capital which will definitely be used for the payment of wages. There may be a certain amount of capital which WAGES 97 can be used for the payment of wages, but whether it will be so used depends upon a number of circum- stances. Neither is it true that there is in any country at any time a definite number of workers who must take work whatever be the rate of wages. We all know that this statemen...t does not correspond with facts. But we can well understand that as long as those views were held it would be natural for people to think a great deal about the importance of emigra- tion, or of the forces which are likely to check the growth of population. The fewer people there were, the more it seemed there would be for those that were left. And also those who accepted the wage fund theory could not but believe that those Trade Unions which succeeded in getting higher wages for their members were taking away the share of some one else.

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