The book The Engineers And the Price System was written by author Veblen Thorstein Here you can read free online of The Engineers And the Price System book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is The Engineers And the Price System a good or bad book?
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Their capitalization has, in effect, been calculated and fixed on the highest ordinary rate of earn- ings previously obtained; and on pain of insol- vency their businesslike managers are now re- quired to meet fixed income-charges on this capitalization. Therefore, as a proposition of safe and sane business management, prices have to be maintained or advanced. I08 THE ENGINEERS AND THE PRICE SYSTEM From this businesslike requirement of meeting these fixed overhead charges on the capitaliza- tio...n there result certain customary lines of waste and obstruction, which are unavoidable so long as industry is managed by businesslike methods and for businesslike ends. T hese ordin ary lines of waste__and— obstructioa- are -neeessa^rily (and blamelessly) iacl]ided._in the bHsme&slike. rnnduct of production. They are many and various in detail, but they may for convenience be classed under four heads: (a) Uoe mplovment of m ate- rial resources, equipment and manpowerjiLw^ole or ^n part , deliberately or jthrQugh— ignorance ; (b) Salesmanship (includes, e.
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