Inhaltsangabe
Excerpt from Economics: Lesson 13
Since that grievous time which followed the invention of machinery and its introduction into general use, the course of wages has been on the whole upward. In England, for instance, money wages increased 791 per cent. Between 1850 and.1910, and real wages (purchasing power of the money wages), increased 69 per cent.
It 18 also to be noted that wages, while increasing, must naturally bear a diminished proportion to the whole pro duct. Of labour. This is necessarily the case, because the more a country gains in industrial skill and development, the. Larger becomes the average capital per workman: As interest on that larger capital, the man who advances it must have an increase in his share of the product. Thus in 1900 the wages and salaries of those employed in manu factures in Canada amounted to per cent. Of the total net product. In 1910 they have sunk to per cent. While the percentage of the net product going to wage earners has declined, the actual amount of wages has, as we have seen, greatly increased.
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