An Analysis of the Banking And Currency System of the United States Indicating
An Analysis of the Banking And Currency System of the United States Indicating
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In our eReader you can find the full English version of the book. Read An Analysis of the Banking And Currency System of the United States Indicating Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book An Analysis of the Banking And Currency System of the United States Indicating
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An increase in the wages paid necessarily increases the cost of pro- ducing goods, and the selling price must be advanced to cover this increased cost. If the goods will not sell at the increased cost produc- tion will instantly cease, thus cutting off the supply. With the supply cut off the demand, if there is any, will exhaust the existing stock on hand, and, if the demand continues, the selling price will necessarily rise until it will be profitable to again produce.
The effect of the genera...l increase in wages, therefore, is two-fold : First, it necessarily increases the selling price by the amount of the extra cost of the labor entering into the production of the goods.
Second, it increases the buying capacity of the wage-earner, thereby increasing the demand for goods.
18 If the demand is only slightly above . Or below the supply it will have a great effect upon the price. It is a well-known principle that "the surplus governs the price. " The American manufacturer, know- ing this, dumps his surplus on the foreign market, at cost or below, so as to maintain high prices in America.
What to read after An Analysis of the Banking And Currency System of the United States Indicating?
You can find similar books in the "Read Also" column, or choose other free books by Chas W Charles Wesley Disbrow to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
An increase in the wages paid necessarily increases the cost of pro- ducing goods, and the selling price must be advanced to cover this increased cost. If the goods will not sell at the increased cost produc- tion will instantly cease, thus cutting off the supply. With the supply cut off the demand, if there is any, will exhaust the existing stock on hand, and, if the demand continues, the selling price will necessarily rise until it will be profitable to again produce.
The effect of the genera...l increase in wages, therefore, is two-fold : First, it necessarily increases the selling price by the amount of the extra cost of the labor entering into the production of the goods.
Second, it increases the buying capacity of the wage-earner, thereby increasing the demand for goods.
18 If the demand is only slightly above . Or below the supply it will have a great effect upon the price. It is a well-known principle that "the surplus governs the price. " The American manufacturer, know- ing this, dumps his surplus on the foreign market, at cost or below, so as to maintain high prices in America.
What to read after An Analysis of the Banking And Currency System of the United States Indicating?
You can find similar books in the "Read Also" column, or choose other free books by Chas W Charles Wesley Disbrow to read onlineMoreLess
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