Is Plenty Too Much for the Common People the Hottest Question That Ever Stung a

Cover Is Plenty Too Much for the Common People the Hottest Question That Ever Stung a
Is Plenty Too Much for the Common People the Hottest Question That Ever Stung a
George R George Ross Kirkpatrick
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Putnam's Sons.
179- Do you know that labor-cost is the most flexible, most easily beaten down? A study by the Standard Statistics Com- pany, a conservative but accurate concern, reports labor costs in many industries. For example: the labor cost in sugar refining is 3. 7% of the total wholesale price.
in automobiles, 9. 1%, in iron and steel, 20. 6%.
These fair samples will serve to show that increases in prices have very little to do with increases in wages. ' Dr. Harold Loeb gives the total v
...alue of production for 1 929 as J $93, 000, 000, 000 labor income that year...... 53, 000, 000, 000 Surplus $40, 000, 000, 000- Estimating about 36 million wage and salary workers in that year gives an average annual income of approximately $1475 each.
In the year 1930 the employer class income actually advanced while the incomes of the working class collapsed; more than a dozen million workers were not permitted to work and earn at all.
In 1931 wages had slumped 38. 6% from the 1929 level; interest had slumped Y?.


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