Business economics and statistics by Davies George Reginald 1876-

Author:Davies, George Reginald, 1876- [from old catalog]
Language: eng
Format: epub
Tags: Economics
Publisher: New York, Philadelphia, La Fayette institute, inc
Published: 1921-03-25T05:00:00+00:00

BUSINESS ECONOMICS AND STATISTICS

be expected, since by the end of the nineteenth century population had about caught up with the rapid industrial advance. The volume of capital used was greatly increasing, and land values were advancing as a result of the relative closing of the frontiers. But the slackening of advance in common wages is compensated for by the widening opportunities in the skilled occupations and the professions.

The movement of wages and prices during and since the war is of interest, and is valuable as throwing light on the responsiveness of the labor market. It is often said that wages are stabilized by custom, and that therefore they move much more slowly than prices. This may have been very true in former days. It may also be true today of certain occupations, such as the postal service, teaching and preaching. But it is not so true of industrial wages, under present conditions. A considerable portion of the labor army is mobile, and quickly moves to the point of greatest demand. Union activities also tend to push wages up whenever the condition of the market makes it possible. Therefore the market for labor is coming to be almost as responsive as for commodities. At least, such is the conclusion that is suggested by a review of the figures for the last few years. The following table gives indexes for prices, and for labor of specified kinds.

Table IV. Prices and Wages in the United States Since 1913

Annual indices estimated from seasonal data. Source, Bureau of Labor Statistics.

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.