102 
POLITICAL ECONOMY 
by entering the ranks of those who exercise 
the employing function. Moreover, in con 
sequence of the greater safety assured to 
the capital of investors when a business 
is clothed in the legal company forms, 
it has drawn increasing proportions of 
the savings of the community into the 
industrial field, and induced a higher degree 
of saving than would have taken place 
otherwise. 
To say that the earnings of employers are 
settled by demand and supply is not to 
demonstrate that it is open to everybody who 
is prepared to undertake the burden, and is 
capable of doing the work, to make the 
employer’s income. It is still necessary in 
almost all circumstances, that a person 
should be possessed of some substantial 
resources if he is to thrust himself into the 
employing class. Moreover, it is generally 
requisite that he should have received a 
certain kind of training, and be in certain 
relations with particular sections of the 
business world, to enable him to make a start 
with fair prospects of success. Consequently, 
to all but the most exceptional of those who 
are born in the lower economic ranks, the 
scaling of the industrial ladder is hard in 
the absence of unusually good fortune. It