Economics and socialism; by Laycock F

Author:Laycock, F[rederick] U[ttley] [from old catalog]
Language: eng
Format: epub
Tags: Economics
Publisher: London, S. Sonnenschein & co.
Published: 1895-03-25T05:00:00+00:00

The same result follows if the community be considered As was seen in the chapter on rent, the greater the abundance the smaller the relative share of rent. Mr. George's idea is that since men's desires increase as they are satisfied, rent must continually encroach on the rewards of capital and labour. But surely it must not be said that rent has swallowed up a man's wages when, having reached a certain standard of comfort, he desires and is willing to pay for more land on which to enjoy a better living ? That itself is indication enough that he is receiving better wages. Rent may increase a little, as was seen, but it cannot be said to have increased at the expense of wages when wages have increased still more. It is a question of proportionate shares. And in the matter of relative or proportionate shares rent is reduced by cheapness and plenty. Combinations of workmen do not benefit themselves at the expense of rent by making wealth more scarce.

Mr. George, like others, has neglected to take note of the fact that men produce in order that they may consume. He imagines that better machinery, and all the contrivances for increasing and cheapening the supply of wealth will but increase rent; that habits of sobriety and thrift will not make a man better off, but increase his rent; that to save a man from paying taxes will increase his rent. And all this, forsooth, is because men desire more as their desires are fulfilled. Not only does he neglect the fact that, if they spend it they enjoy it, and not the landlord, but also that if they save it, it is for themselves and not for the owner of the soil He

thinks that to say that men will be better for increased industry and thrift is like asserting that every one of a number of competitors might win a race—which is nonsense. It is not a question of one arriving first, but of all having abundance of wealth. Confusing wealth with money might give his results. So far as money is concerned, it is quite true that it is useless to imagine all can have more of it, for it cannot be much increased. People would be no better if it could. But this simply disproves Mr. George's own argument for dearness. So far, however, as wealth is concerned that can be increased. All may have more by increased industry and thrift making the wealth cheaper. It is not true, as Mr. George says, that "if one individual worked more hours than the average he will increase his wages, but the wages of all cannot be increased in this way." The wages of all can be increased by more work, if they prefer to have more wages and not to be content with what they have. This, of course, refers to real wages; money wages are a matter of indifference.

To put the matter briefly: cheapness which is not

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