ACCEPTANCE OF NEW THEORY 159 
are not increased and profits are not reduced, there has 
been no practical method worked out for an equitable dis- 
tribution of increased labor productivity between the dif- 
ferent groups of workmen. In raising wages, the old sys- 
tem of bargaining has been followed. With the develop- 
ment of more equitable methods of adjustment and the 
actual relation of the wages of the unskilled workers to 
their contribution to output, this group of wage-earners 
will undoubtedly be raised to a living or savings-standard 
of compensation and living. The remarkable growth in 
the National Income from 61 billions in 1922 to 90 billions 
in 1927, as shown by estimates from private and public 
authoritative sources, in the face of lower prices and 
unprecedented wage advances, will also effectively elimi- 
nate any further contention as to the practicability of 
paying at least a “living wage” to unskilled workers. 
"1 Estimates by the National Bureau of Economic Research, and the United 
States Treasury Department, 1928.