Carpenter Volume 39-40.cUnited Brotherhood of America
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Author: United Brotherhood of America
Page Count: 706 pages
Published Date: 01 May 2012
Publisher: Rarebooksclub.com
Publication Country: Miami Fl, United States
Language: English
ISBN: 9781231070635
File size: 41 Mb
File Name: Carpenter.Volume.39-40.pdf
Download Link: Carpenter Volume 39-40
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1919 Excerpt: ...buying, buying, with bank credits based on Government loans, as in America, with such credits and irredeemable bank notes besides, as in England and France, with the same and with unlimited fiat money in addition as in Italy and Germany, the late Dual Empire, and Russia, what is to be expected?. The consequences of gravest import bear upon the position of the wage earner. When the curve of prices is upward, production is encouraged with the result, first, that employment is available for the normal reserve of unemployed and underemployed labor, and second, that the competition for labor raises wages. But the tendency toward rising wages encounters great resistance. Every employer fears that when prices slump, as they may at any time, wages will refuse to come down; therefore he would rather reject lucrative orders than bid higher for additional labor. When labor is alert and well organized the employer may be compelled to raise wages under penalty of forfeiting his share in the general prosperity. But it is, and must remain, the exceptional case where labor is organized well enough to force wages to advance simultaneously with prices and in the same degree. It is the rule that wages lag until the relation between income and cost of living becomes distressing and discouraging, and then advance by jerks, in consequence of struggles that impair production and disturb the social order. 8uch is the course of the upward movement of prices and its consequence for labor. But what goes up must come down; in time we shall see a reverse movement of prices; shall we not then see labor regaining what it lost through the period of inflation? Unfortunately economic equations never conies out square. In the period of rising prices the laborer gets less and less, if his rew...
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