Justice And Liberty, a Political Dialogue
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Martin. But surely they never do. They pay as much as they must, and as little as they can. And the only calculation they make is whether it is worth their while to buy such and such a service at such and such a price. Or do you suggest that if it could be proved statistically that the dock-labourer's contribution to wealth was ten shillings an hour, and the barrister's ;fioo a year, the remuneration for their respective services would immediately be readjusted to that scale? [86] A POLITICAL D...IALOGUE Stuart. Not immediately ; but it would in the long run. (d) Wages Martin. In the short run, at any rate, you will agree, and the Economists will not deny it, that contribution to wealth is not the measure of wages; and it is the short run in which actual payments are made, and actual equities or inequities developed. Omitting that, however, and taking the long run, even so the interven- tion of friction of every kind practically destroys the truth of your contention. If, indeed, every one, in all classes, had a perfect knowledge of all the conditions of every labour-market, and if, having that knowledge, they were in a position to bring up their children so as to fit them for any kind of occupation, then it would be true that there would be a constant tendency for wages to be measured by contribution to wealth.
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You can find similar books in the "Read Also" column, or choose other free books by Dickinson, G. Lowes (Goldsworthy Lowes), 1862-1932 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Martin. But surely they never do. They pay as much as they must, and as little as they can. And the only calculation they make is whether it is worth their while to buy such and such a service at such and such a price. Or do you suggest that if it could be proved statistically that the dock-labourer's contribution to wealth was ten shillings an hour, and the barrister's ;fioo a year, the remuneration for their respective services would immediately be readjusted to that scale? [86] A POLITICAL D...IALOGUE Stuart. Not immediately ; but it would in the long run. (d) Wages Martin. In the short run, at any rate, you will agree, and the Economists will not deny it, that contribution to wealth is not the measure of wages; and it is the short run in which actual payments are made, and actual equities or inequities developed. Omitting that, however, and taking the long run, even so the interven- tion of friction of every kind practically destroys the truth of your contention. If, indeed, every one, in all classes, had a perfect knowledge of all the conditions of every labour-market, and if, having that knowledge, they were in a position to bring up their children so as to fit them for any kind of occupation, then it would be true that there would be a constant tendency for wages to be measured by contribution to wealth.
What to read after Justice And Liberty, a Political Dialogue?
You can find similar books in the "Read Also" column, or choose other free books by Dickinson, G. Lowes (Goldsworthy Lowes), 1862-1932 to read onlineMoreLess
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