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
For the same reasons, the labourers do not need to combine when
capital superabounds. They can naturally obtain as large a share of
the subsistence fund as will leave ordinary profits to the
capitalist: and this happens of course, as is well known from the
examples of newly settled countries, and newly invented
manufactures, where the profits of the capitalist are invariably
prevented by the dearness of labour from much exceeding the ordinary
rate.
In cases of equal proportion, the labourers run even a greater risk
from a strike than the capitalists. Some of the capitalists will, if
the balance be exact, withdraw their capital from business rather
than stand a strike; and thus is caused an immediate superabundance
of labour, with all its disadvantages to the labourers. But if no
capitalist withdraws, the waste of capital necessarily caused by a
strike causes also a superabundance of labour; and thus also the
labourers suffer for having destroyed the balance.
But when combination is resorted to in the absence of all other
power, its results are the most disastrous to the weak party which
employs it. The labourers who superabound are already at a
disadvantage, which can only be increased by any resistance which
helps to impoverish the capitalists. They may injure the capitalists
by impairing the capitalists’ share of the subsistence fund: but
they injure themselves much more by impairing, at the same time, the
labourers’ share. That such means of injuring capitalists are ever
resorted to in such a condition of affairs proves most forcibly that
the largest of the parties concerned is not yet fully aware how the
case stands, and that a far greater power of competition with the
capitalists is lodged with them than that which they are too ready
to employ to the injury of both parties and the good of neither.
Public-domain text, read in full here on John Shaqi.
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