The Relation Between Wages And the Increased Cost of Living. An Analysis of the Effect of Increased Wages And Profits Upon Commodity Prices

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(7) This survey proves that in the division of national income between labor and property, property has received a much larger share than it did prior to the war. Labor, therefore, must have re- ceived a smaller share. This means that the strategic position of property has been strengthened, that of labor weakened.
(8) The real significance of this is that, as a result of the period 1914-1918, there are at least three times as many people living pri- marily off large blocks of the nation's prop
...erty. In other words, the production of the country must, as a result of the war fortunes, carry a heavier overhead than previously. This does not mean that there is today more property in the country for which rent must be paid. It means that the property which existed before the war has been given a higher money value. In other words, as a result of war profiteering a greater proportion of national income must go to those Digitized by Microsoft® 24 who have given their share of the nation's property a higher paper value.

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