The Principles of Economics, with Applications to Practical ProblemsFetter, Frank A. (Frank Albert)
General
The Principles of Economics, with Applications to Practical Problems
Fetter, Frank A. (Frank Albert)
Economics
The main evil in the wage system is certainly not that the liberty of
the worker is too great, but that it is too small. The sale of labor
involves the obeying of orders during certain hours specified in the
contract. Here again the evil is greatest in the lowest grades of work,
while the great majority of wage-earners are left a large measure of
choice in the time and manner of their work. Where labor is severe and
without joy to the worker, it appears to be little better than a form of
slavery. Contrast the condition of the section hand, cursed and beaten
by a brutal foreman, with that of the wage-earner in the locomotive-cab,
self-respecting, self-directing, and trusted with the safety of property
and lives. The wage system is manifold, it is adaptable. If it holds a
portion of the laborers with a harsh hand, it gives to all a wide
measure of opportunity, and to most a great degree of independence in
their lives. A hasty resort to indiscriminating analogy, as in calling
wage-work "slavery," does not further truth or social justice.
§ III. PROGRESS OF THE MASSES UNDER THE WAGE SYSTEM
[Sidenote: The rise of money wages]
1. _The nineteenth century was a period of great progress for the masses
in America, England, and throughout Europe._ There are differences of
opinion as to the extent of this progress, the way in which it is to be
measured, and the degree to which it is an occasion for congratulation.
There is no longer any dispute as to the actual fact that it has taken
place. Many lines of evidence converge to confirm this one conclusion.
The average money wages in the United States may be represented in 1840
by 87.7, in 1860 by 100, and in 1891 by 161.2. This was the high mark
for a time and a decline followed. Again wages rose from 1897 on, and in
1899 had reached 163.2. They have continued to rise since and in 1903
attained the highest point in the history of our country and therefore
in the history of the world. Another temporary decline undoubtedly will
occur when industrial conditions become less prosperous.
[Sidenote: Changes in real wages]
Public-domain text, read in full here on John Shaqi.
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