The Atlantic Volume 112

The Atlantic Volume 112

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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. 1913 edition. Excerpt: ...articles. An increase of wages paid for the same time and same skill of laborers will raise the prices of the goods they are working on just as surely as will an increase of taxes or of the cost of mate rials. Reduce taxes, and by so much the expenses of production and prices to the public will fall, --or ought to fall. Reduce the tariff, taxes on clothing, etcetera, --and by so much prices and cost of living should be reduced. Now, as a matter of cold fact, how has the workingman fared with this method of raising wages in recent years? In the principal manufacturing and mechanical industries, leaving out salaried employees, in the ten years from 1897-1907 (according to the index number of the Bureau of Labor) wages had risen from 99.2 to 122.4, or 23 per cent, while retail prices for food had increased from 96.3 to 120.6 or 25.5 per cent. That is, the purchasing power of wages fell 2.5 per cent during that period of unusual expansion of business. In short, the whole effect of the wages increase had been nullified by the rise in the prices of food usually consumed in the family budget. After all the bad blood stirred up in some twenty years the unions have accomplished practically nothing toward raising their power of consumption. Obviously something is very far wrong with the principle on which they are operating. They have climbed this hard uphill road for decades only to find no passage through at the end. Economically, the principle of monopoly of labor does not work in favor of the laborer. Why? It is very important that, in their own interest, they should know the reason why. by the laborer reduces the'real wages of the laborer as much as, if not more than, the increase in money wages. He is just where he was before, without any more

Product details

  • Paperback | 524 pages
  • 189 x 246 x 27mm | 925g
  • United States
  • English
  • black & white illustrations
  • 1236936353
  • 9781236936356