The Tariff Question, With Special Reference to Wages And Employment
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The essence of the argument as regards the general rate of wages may be put in a very simple form in this way : The result of Protection is to diminish on the PROTECTED AND GENERAL WAGES 45 whole the volume of commodities avail- able for consumption. Things formerly imported now cost so much more to produce, and that means that the pro- ductive powers of the nation are not employed to the best advantage. The total real national income is less, there is less to divide, and so far general wages a...lso suflter. In the end, the wages of the protected groups will feel the efltect of this general fall, and will also fall.
Take for illustration the case of agri- culture. Everyone will now admit* that if the old protective system had been retained the progress made by this country would have been impossible.
The total wealth of the country would have been far less, general wages would have been less, and in all probability even agricultural wages would have been less.
* Cf. Mr. A. J. Balfour's pamphlet 46 THE TARIFF QUESTION Protection and Employment.
What to read after The Tariff Question, With Special Reference to Wages And Employment?
You can find similar books in the "Read Also" column, or choose other free books by Nicholson, J. Shield (Joseph Shield), 1850-1927 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The essence of the argument as regards the general rate of wages may be put in a very simple form in this way : The result of Protection is to diminish on the PROTECTED AND GENERAL WAGES 45 whole the volume of commodities avail- able for consumption. Things formerly imported now cost so much more to produce, and that means that the pro- ductive powers of the nation are not employed to the best advantage. The total real national income is less, there is less to divide, and so far general wages a...lso suflter. In the end, the wages of the protected groups will feel the efltect of this general fall, and will also fall.
Take for illustration the case of agri- culture. Everyone will now admit* that if the old protective system had been retained the progress made by this country would have been impossible.
The total wealth of the country would have been far less, general wages would have been less, and in all probability even agricultural wages would have been less.
* Cf. Mr. A. J. Balfour's pamphlet 46 THE TARIFF QUESTION Protection and Employment.
What to read after The Tariff Question, With Special Reference to Wages And Employment?
You can find similar books in the "Read Also" column, or choose other free books by Nicholson, J. Shield (Joseph Shield), 1850-1927 to read onlineMoreLess
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