Economic essays

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Identifikator:: 1753623200

URN:: urn:nbn:de:zbw-retromon-136107

Document type:: Monograph

Title:: Economic essays

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1927

Scope:: viii, 368 S.; Ill., graph. Darst.

Digitisation:: 2021

Collection:: Economics Books

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Title:: The static state and the technology of economic reform / Thomas Nixon Carver

Collection:: Economics Books

STATIC STATE AND THE TECHNOLOGY OF ECONOMIC REFORM 43 reasons. A principal and altogether sufficient reason is that it is easier to save out of large than out of small incomes. A country which lacks adequate capital, that is, adequate equipment in the form of engines, machines, rails, rolling stock and other aids to production, must necessarily have a small per capita income. Out of this small per capita income it would be difficult to save enough to pay for the building and making of the new equipment. By borrowing the equipment, or the means of purchasing it, the labor of the country can be promptly equipped with all the aids to production and this will at once increase the national per capita income. Out of this increased income it will be easier to save enough to pay off the debt than it would have been to save enough out of the previously smaller income to buy the equip- ment without going into debt. Even the Soviet Government seemed to recognize this principle when it attempted to borrow capital from the outside. If any doubt exists as to the correlation between the amount of capital equipment per worker and the product per worker, and between both of these and the wages per worker, the follow- ing tables should keep to dissipate that doubt, thought they add little to what is already known to every theoretical mind. ProDUCTIVITY PER ACRE AND PER PERSON ENGAGED IN AGRICULTURE IN Various COUNTRIES Ratio of Index production figure of per man, production United per person States engaged in to countries aoriculture. indicated. Acres per Index person figure of engaged in productivity agriculture. per acre. Country United Kingdom . . France .. Germany Hungary Belgium Italy... United State Year 1 7 Yt 9) [0 7 5 202 oS 32 25 36 25 6.5 7 el al.b (From U. is. Department of Agriculture, Yearbook for 1918, Table 290.) COMPARISON OF TWENTY-SIX INDUSTRIES IN THE UNITED STATES AND THE Unitep KiNgpoM United States—1909 United Kingdom—1907 No. of workers .. 1,983,000 1,700,000 Horse power used ....... 4,779,000 2,009,000 Horse power per 1000 workers.... 2,400 1,200 Gross output per worker per year.... 8,735 $3,100 Net output per worker per week....... $79 $11 (From J. Ellis Barker's Economic Statesmanship, pp. 519, 524.)

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