The Atlantic Volume 102

The Atlantic Volume 102

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1908 edition. Excerpt: some one industry, like shoemaking or cotton-spinning, we find profits appearing and vanishing, and appearing again and vanishing again. If we include in our vision the system as a whole, we find them appearing now in one branch of industry, now in another, and now in still another, shifting forever their places in the system, but always present somewhere. Steel, cotton, wool, machinery, or flour, takes its turn in affording gains to its producer, and these gains constitute the largest source of additions to capital. These natural profits in themselves burden nobody. Not only is there in them no trace of exploitation of labor, but from the very start the influence that yields the profit improves the condition of labor, and in the end labor, as the greatest of all consumers, gets the major benefit.' 1 A fuller treatment of this subject would take account of the incidental evils which inventions often eauae, by forcing some persons to change their employments, and would show that these evils were once great but are now smaller and destined to diminish. Now, an important fact is that such profits based on improved technical processes naturally, and almost necessarily. add themselves to capital. The employer wishes to enlarge his business while the profits last---" to make hay while the sun shines." He has no disposition to spend the income which he knows will be transient, but has every disposition to enlarge the scale of his operations and provide a permanent income for the future. Easily, naturally, painlessly, the great accretions of capital come; mainly by advances in technical operations of production. In the socialistic' state all the incomes of the year would be pooled. They would make a composite sum more

Product details

  • Paperback | 552 pages
  • 189 x 246 x 28mm | 975g
  • United States
  • English
  • black & white illustrations
  • 1236858166
  • 9781236858160