Wages And Capital An Examination of the Wages Fund Doctrine
Wages And Capital An Examination of the Wages Fund Doctrine
F W Frank William Taussig
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. . But this original state of things . . . Could not last beyond the first introduction of the ap- propriation of land and the accumulation of stock. It was at an end, therefore, long before the most considerable improvements were made in the productive powers of labour. . . . It seldom happens that the person who tills the ground has wherewithal to maintain himself till he reaps the harvest. His maintenance is generally advanced to him from the stock of a master, the farmer who employs him. ...... In all arts and manu- factures the greater part of the workmen stand in need of a master to advance them the materials of their work, and their wages and maintenance till it be completed. . . . It sometimes happens, indeed, that a single independent work- man has stock sufficient both to purchase the materials of his work, and to maintain himself till it be completed. He is both master and workman, and enjoys the whole produce of his own labour, or the whole value which it adds to the materials on which it is bestowed.
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