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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Document type:: Monograph

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

Collection:: Economics Books

44 ECONOMIC ESSAYS IN HONOR OF JOHN BATES CLARK ¥ Linn pn a REAL WAGES IN FoRreIGN COUNTRIES AND THE UNITED STATES, JANUARY TO OcToBER, 1925. (From International Labor Review, April, 1926. P. 589.) October, 1925 July, 1925 January, 1925 100 100 100 2a 81 go iy my 5 55 45 46 40 City Philadelphia ... DEAWA i are tine sre re ao Sydney, N. 8, We rr Copenhagen ... London... DISD: ales on SE sas Arastendmm tr EE ati Sr TT es cr Parisi... ne Berlin .. are. mL Ts ol Lodz .%.. hr ErEsela a a mf Prague ... or ra Warsaw .. Rome ... Vienna ... Milan - 9 20 2 21 23 21 We may summarize the discussion thus far by saying that high wages will prevail in any country with reasonably good natural resources in which the following factors are all found working in combination. 1. A democratic tradition under which (a) every person, how- ever humble his origin, is encouraged to make the most of him- self and to climb as high on the economic ladder as his ability and training will permit, and (b) all useful occupations are regarded as equally honorable and in which, specifically, tech- nical, managerial and entrepreneurial positions are held in as high esteem as the so-called learned professions or even literary and artistic careers, so that a fair share of the best talent of the country is encouraged to seek those so-called practical careers. 2. Habits of hard and prolonged work on the part of prosperous men, which will keep them at work even after they have enough wealth to enable them to retire to a life of ease and luxury. 3. An efficient system of free and universal education, by means of which men are enabled to climb as high on the economic ladder as their natural ability and their ambition will permit, thus thin- ning out the numbers in the lower and less paid occupations, and training more high grade men for the technical and managerial positions, who can so organize and equip industries as to make high wages possible. 4. An effective restriction of immigration which will prevent other and less prosperous countries from shifting their burdens of unemployment and low wages upon this country. 4

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