Wealth And Progress; a Critical Examination of the Labor Problem; the Natural Basis for Industrial Reform, Or How to Increase Wages Without Reducing Profits Or Lowering Rents: the Economic Philosophy of the Eight Hour Movement
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By this means it would take three years to get the measure in full operation, during which time industrial relations would naturally be adjusted without serious incon- venience or injury to any class in the community. CHAPTER V. WHAT WOULD BE ITS EFFECT UPON RENT? Rent, as we have elsewhere explained, sustains substantially the same economic relation to wages as do profits.* Therefore, for all practical purposes, the real answer to the above question is given in the preceding chapter, and need ...detain us but a few mo- ments here. The value of land is governed by the same general causes as that of commodities. Consequently, rent is subject to the same social and economic influences as profits. Indeed, in the strict sense of the term, it is profit. For the same reason that the laborer will not devote his efforts to production without wages, and the capitalist devote his capital without profit, will no one pay rent for land, either for the purposes of agri- culture, manufacture, or commerce, unless it will reim- burse him for his outlay, and afford him something for his trouble.
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