This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1883. Excerpt: ... PART II. Mr. GEORGES And Mr. MILL'S THEORIES Of The WAGES FUND. Let us now pass to a branch of the subject of more practical interest, and one on which Mr. George has thrown useful light. Among the arguments adduced by him in the solution of his problem, his attack on Mr. Mill's theory of Wages occupies the first and foremost place. According to Mr. Mill's theory, wages are paid out of a fund in which the product of the labour for which the wages are paid forms no part.0 According to Mr. George's theory, wages are paid out of the product of labour for which they are paid. Mr. George thus states his principle as to the wages JJr GeoJg£s fund; wastes fund. "Each productive labourer, as he works, creates his wages, and with every additional labourer there is an addition to the true wages fund--an addition to the common stock of wealth which, generally speaking, is considerably greater than the amount of wages." f As Mr. George here states the principle, he would seem to imply that both capital and capitalist are unnecessary as a means for enabling the labourer to produce wealth. The fallacy in this mode of stating the principle is that to which I have previously alluded, viz., the confusion between "labour" or "work" and "product of labour." In thus stating the See page 45 et seq. f Book iii., chap. i. principle Mr. George not only ignores the part played by the employer in supplying the materials, workshops, and other arrangements which are necessary to enable the labourers to contribute their labour, but he excludes from the theory of the conditions which enable the labourer to produce "wealth," the very important part played by the employer in directing the course in which capital and labour are employed, upon the successful performance of which fun...
|Book:||A Critical Examination of Mr. George's "Progress & Poverty" and Mr. Mill's Theory of Wages|
|Author:||Francis Davy Longe|
|Publisher:||General Books LLC|
|Number of Pages:||22|
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