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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PROBLEMS OF DISTRIBUTION 239 possibilities in such an industrial country as England at the present time. The method would not be acceptable to the majority of employers or employees, and it is highly doubt ful, despite the triumphs of different forms of industrial arbitration in New Zealand and Australia, whether the method would prove workable, at any rate under conditions such as we may reasonably forecast for our life time, in the enormously complicated inter relation of industries in advanced western countries. The wages problem in such surroundings is a profoundly difficult one because, our productive energies being guided by fore sight, wages may be regarded as governed by the reflection in anticipation of consumers’ innumerable demands on the one hand and the supplies of capital, labour and organising sagacity of their multitudinous kinds on the other side. Moreover consumers’ demands and the relative supplies of the different agents in production are constantly varying, so that the wages problem calls repeatedly for resettle ment. Now it is imperative that at each settlement the right wage should be approxi mately hit upon, because it is only when the right wage is discovered, and discovered rapidly, that production is kept appropriate

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