Political economy

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Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

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214 POLITICAL ECONOMY more efficient operatives will tend to get wages in excess of the wage obtained by the marginal man ; and after the foregoing exposition it should be equally apparent that the extra wages will measure their differential advan tages as agents in production, that is the differential advantages of employing them. They are properly termed rents, according to the modefn use of the term, because they are payments for differential advantages. It will be observed, moreover, that the complexities which were involved in the case of land considered above when we took into account the different amounts of labour and capital that would be applied to different qualities of land are involved also, to some extent, in the case of workmen. More doses of labour and capital will be applied, other things being equal, to the more efficient than to the less efficient workman, that is to say there will be a tendency to set the efficient workman to manage more machinery and generally to work with more assistance. How ever, this tendency is frequently counteracted by other tendencies, for instance by the dis position to secure the simplicity arising from uniformity of arrangement. Again, trade union regulations, imposed for reasons which cannot be discussed now, may prevent the

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