International trade

Bibliographic data

Monograph

Identifikator:: 1758394757

URN:: urn:nbn:de:zbw-retromon-136209

Document type:: Monograph

Author:: Taussig, Frank William http://d-nb.info/gnd/120199459

Title:: International trade

Place of publication:: New York, NY

Publisher:: Macmillan

Year of publication:: 1927

Scope:: XXI, 425 Seiten; graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Part I. Theory

Collection:: Economics Books

WAGES NOT UNIFORM — NON-COMPETING GROUPS 53 factors. Or they may be themselves partly of international range; then the conditions of international trade themselves operate as cause, and the domestic and international factors become mutually dependent. The underlying forces are solely domestic if social or industrial stratification within a country rests on deep-rooted differences in the standards of living of its several groups. This hypothesis has been stated with admirable precision by Marshall : “Suppose that society is divided into a number of horizontal grades, each of which is recruited from the children of its own members; and each of which has its own standard of comfort, and increases in numbers rapidly when the earnings to be got in it rise above, and shrinks rapidly when they fall below that standard. Suppose, then, that parents can bring up their children to any trade in their own grade, but cannot easily raise them above it and will not consent to sink them below it. “On these suppositions the normal wage in any trade is that which is sufficient to enable a labourer, who has normal regularity of employment, to support himself and a family of normal size according to the standard of comfort that is normal in the grade to which his trade belongs; it is not dependent on demand except to this extent, that if there were no demand for the labour of the trade at that wage the trade would not exist. In other words, the normal wage represents the expenses of production of the labour according to the ruling standard of comfort.” ! In such case the relations of the several groups are settled by causes quite independent of international trade. They would persist if there were no such trade at all, and would be no more potent and no less if such trade took place on a great scale. The groups get their several rates of remuneration because of differ- ences in the conditions of supply for the several kinds of labor and service, not because of the quasi-fortuitous impact of demand. They operate as causes of price (the price of a particular kind of labor) ; they are not the results of the price of goods. They are ! ** Principles of Economies,” 2d edition, pp. 557-8. I quote from the second edition because the statement there is more precise than in the later editions, where the same conception is to be found but in vaguer formulation.

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