The intelligent woman's guide to socialism and capitalismShaw, Bernard
General
The intelligent woman's guide to socialism and capitalism
Shaw, Bernard
Capitalism; Socialism
Now an article can become scarce in several ways. One is by reducing
the quantity in the market by slackening or ceasing to manufacture.
Another is to increase the number of people who want to buy the
article and have money enough to pay for it. Yet another is to find
out new uses for it. A scarcity of coal can be produced not only by
the increase of the population, but by the people who formerly wanted
only a scuttle of coals for the kitchen fire wanting thousands of tons
for blast furnaces and ocean steamers. It is the scarcity produced
in these ways that has raised the price of coal to such a point that
it is now worth while to tunnel out mines under the sea. The cost of
such mines is heavy; but it is not incurred until the price of coal
has gone up sufficiently to cover it with a profit. If the price falls
enough to cut off that profit the mine stops working and is abandoned.
And what is the consequence of that? The stopping of the mine cuts off
the supply of coals it used to send to the market; and the scarcity
produced by the stoppage sends the price up again until it is high
enough to restart the mine without losing money by it.
In this way the Intelligent Woman (and also the unintelligent one)
finds herself condemned always to pay for her coals the full cost of
getting them from the very dearest mines in use, though she may know
that only the fag end of the supply comes from these mines, the rest
coming from mines where the cost is much lower. She will be assured,
if she remonstrates, that the price is barely sufficient to enable
some of the collieries to continue working; and this will be quite
true. What she will not be told, though it also is quite true, is that
the better mines are making excessive profits at her expense, to say
nothing of landlord’s royalties.
And here comes in another complication. The miners who hew out the coal
for wages in the better mines are paid no more than those in the worse
ones which can barely afford to keep going, because the men, unlike the
coal, can go from one mine to another, and what the poorest miner must
accept all must accept. Thus the wages of all the miners are kept down
to the poverty of the worst mines, just as the coal bills of all the
housekeepers are kept up to their high cost. The dissatisfied miners
strike, making coals scarcer and dearer than ever. The housekeepers
grumble, but cannot bring down prices, and blame “the middleman”.
Nobody is satisfied except the owners of the better mines.
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