Illustrations of political economy, Volume 9 (of 9)Martineau, Harriet
General
Illustrations of political economy, Volume 9 (of 9)
Martineau, Harriet
Didactic fiction, English; Political fiction, English; Social problems -- Fiction
The consequence of this inequality of dependence is that power of a
different kind is more frequently put in action by the more
dependent than by the less dependent party. The power of combination
to obtain a larger share of the subsistence fund is in the hands of
both parties, and is occasionally used by both; but much more
frequently by the labourers than by the capitalists. For this there
are obvious reasons.
If the proportion of labour to capital be equal, there is little
inducement to either party to quarrel with the other, as their
shares of gain are balanced: but if any capitalists choose to press
upon the labourers, it is to their own ultimate disadvantage, as
well as that of the labourers; for there can never be a combination
so extensive as to include all capitalists; and those who are not
included will find it their interest to lower the prices of their
commodities, paying the same wages as the united capitalists, and
being content with the ordinary rate of profit. By means of this
underselling, the extraordinary rate of profit is necessarily
brought down, and the capitalists are just as they were at first,
the reduction having fallen upon the wages of the labourer. Matters
can seldom, however, proceed so far as to the infliction of this
gratuitous injury. If the proportion of labour to capital be equal,
a very short resistance of the labourers to the reduction of their
wages suffices to make the capitalists repent of their endeavours to
grasp more than their share: and such endeavours are consequently
extremely rare where capital and labour are duly proportioned.
If there be a superabundance of capital, the capitalists are in no
condition to gain any thing by combination. To pay high wages
answers better to them than to live upon their capital. In such a
case, therefore, the capitalists never combine.—Or rather,—and I say
it with sorrow,—if such a case should arise, they would not combine.
Such cases can scarcely be spoken of in this country as matters of
actual experience, since there are but too few instances of capital
being abundant in proportion to labour.
On the third supposition,—that labour abounds in proportion to
capital,—there is no need for the capitalists to use their power of
combination. They can obtain what they want without it. The
labourers are the weaker party, inasmuch as they must have food, and
depend on the capitalists for it:—not for the quantity;—that depends
on themselves,—on the numbers they bring to divide a certain
quantity;—and the capitalists can resist their claims no further
than to secure the rate of profit, without which no capitalist would
do business. Not for the quantity of food to each man do the
labourers depend on the capitalists; but for the purchase of their
labour at all; and therefore, the capitalists do not need to combine
when labour superabounds.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account