Wages and Capital: An Examination of the Wages Fund Doctrine

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Wildside Press LLC, 2008 - Business & Economics - 348 pages
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F.W. Taussig, professor of political economy in Harvard University, also authored "Tariff History of the United States, 1789-1888" and "The Silver Situation in the United States."
 

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Contents

Most labor brings no immediate enjoyment
6
Practically impossible to measure the average period
12
Where this real income is to be seen
16
the finishing touches
22
Historical sketch of the definitions of capital Adam Smiths defini
28
Difficulty of maintaining that their necessaries are analogous
35
Wages however are derived from capital even in this sense
37
In what sense wages are thus derived from capital
43
CHAPTER VIII
152
RICARDO
164
Incidental mention of the division of labor
170
Money wages and commodity wages
176
CHAPTER X
183
MCulloch his general position
189
His brief exposition of the relation of capital to wages
191
Seniors admitted ability
197

Yet some peculiarities in the case of hired laborers to be considered
49
All the conclusions of the chapter bear only on general wages
50
All laborers assumed to be hired by such capitalists
55
Real income and output at any moment adjusted to expected
59
the active capitalists are under engagement
65
Are such laborers to be regarded as receiving wages?
71
How the truth underlying the old doctrine was obscured by its
77
in what
80
Possible ultimate effects of a general rise
86
susceptible of increase proxi
92
CHAPTER V
100
And ultimately in the demand for commodities from consumers
106
profits the residual element with Ricardo
112
A permanent rise in general money wages must rest on a rise in
117
PART II
124
CHAPTER VII
131
The division of labor the point of departure
134
Treatment of capital in its relation to wages
140
A different view of stock in the second Book
146
Malthuss later writings his general opposition to Ricardos school
203
Yet the hired laborers of modern times are paid from capital
209
CHAPTER XI
215
But other related subjects treated at length
218
The familiar formula thereafter applied
224
Common reference to money funds as capital
230
Summary of Mills position
236
Denies that there is a predetermined wages fund
242
MacLeods position similar to Longes
245
Thorntons elaborate criticisms
251
And draws general conclusions on this basis
257
Gradual change in the discussion of normal wages from Ricardo
263
Finding the real source of wages not in capital but in consumers
268
Brentano the next important German writer
274
Inconclusive treatment of the wages fund in modern German books
280
In what sense Ricardos doctrine as to high wages making low profits
286
An illustrative case considered
292
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