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Problems of Poverty

ISBN-10: 0554269325
ISBN-13: 9780554269320
Edition: 2008
Authors: John A. Hobson
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Description: The first condition of "sweating" is an abundant and excessive supply of low-skilled and inefficient labour. It needs no parade of economic reasoning to show that where there are more persons willing to do a particular kind of work than are  More...

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Book details

Copyright year: 2008
Publisher: BiblioBazaar
Binding: Hardcover
Pages: 208
Size: 7.00" wide x 10.00" long x 0.50" tall
Weight: 1.342
Language: English

The first condition of "sweating" is an abundant and excessive supply of low-skilled and inefficient labour. It needs no parade of economic reasoning to show that where there are more persons willing to do a particular kind of work than are required, the wages for that work, if free competition is permitted, cannot be more than what is just sufficient to induce the required number to accept the work. In other words, where there exists any quantity of unemployed competitors for low-skilled work, wages, hours of labour, and other conditions of employment are so regulated, as to present an attraction which just outweighs the alternatives open to the unemployed, viz. odd jobs, stealing, starving, and the poor-house.

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