1. THE EMPLOYER'S PLACE IN DISTRIBUTION.
- Author
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Taussig, F.W.
- Subjects
INCOME inequality ,MINIMUM wage ,WAGES ,EMPLOYEES ,MONEY ,ECONOMIC research - Abstract
The article analyzes and describes the machinery of distribution of income and considers the wages-fund view of that machinery. In these modern days it is not necessary to remark that the wages-fund view is far from complete or all embracing. Indeed, courage is required to intimate that there can be any degree of truth in it whatever. Yet in recent discussions of the much-mooted questions of capital and wages there is an unmistakable disposition to grant that there was something worth considering in the old-fashioned version of the relation between the two. The purpose is only to observe in what manner the distribution of income takes place in modern communities, how business managers and investors and laborers get their shares, and what conclusions are to be readily drawn from such simple observation. It excludes from the notion of capital those finished commodities which are needful for the sustenance and working power of laborers. The incomes of independent producers, large and small, are the primary sources of distribution.
- Published
- 1895
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