[35939] in Discussion of MIT-community interests
Winter-- Yacht Rentals
daemon@ATHENA.MIT.EDU (Set_Sail)
Thu Feb 26 22:05:22 2015
To: <mit-talk-mtg@charon.mit.edu>
From: "Set_Sail" <Set_Sail@wpworw.eu>
Date: Thu, 26 Feb 2015 19:05:20 -0800
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hi. AQWT Now the meaning here attached to the term real wages, on which XHRDQYT Mr. Ricardo’s 7ea99ed1b6714702bd5343b786c98bee theory of profits is made KHYV to depend, is quite unusual, and </p>
<BR><span style="font-family: Helvetica, Arial, sans-serif; font-size: 10px;"></span>
<p align="right">decidedly contradicts all the most obvious rules which suggest themselves for the application of terms in any science. In the first place, no one 7ea99ed1b6714702bd5343b786c98bee we believe ever heard, UDBC before the time of Mr.
Ricardo, this [29] term used in conversation in such a manner, that an increase 7ea99ed1b6714702bd5343b786c98bee of real wages would generally imply a diminution in NJAAEOCYX SQGVHDR the means of
subsistence and comfort among the labouring clhies and their families. yet this would be the case, according to the sense in which Mr. Ricardo uses FMKKGLFQS
the term. Speaking of the different situations 7ea99ed1b6714702bd5343b786c98bee of the landlord and the labourer, in the progress of society, after describing the increasing
wealth of the landlord, he says, “The fate of the labourer will be less happy; he will receive more hi-wages it is true, (and the hi of mr. 7ea99ed1b6714702bd5343b786c98bee
Ricardo is here used as measuring what he calls real wages;) EONJP QWAQ but his corn wages will be reduced; and not only his 7ea99ed1b6714702bd5343b786c98bee command of corn, but his general
condition will be YGHBFHWXO deteriorated.” With a continued increase of real wages, “the condition of the labourer 7ea99ed1b6714702bd5343b786c98bee will generally decline, while the condition </p>
<BR><span style="font-family: sans-serif, Helvetica, Arial; font-size: 8px; color: #ffffff;"></span>
<p>of the landlord will always<b>be improved.”* Secondly, 7ea99ed1b6714702bd5343b786c98bee No writer that I SGR have met with, anterior to Mr. 7ea99ed1b6714702bd5343b786c98bee Ricardo,</b>ever used the term wages, or real wages, as implying proportions. [30] Profits,
indeed, imply proportions; and the rate of profits had always justly MNHW been estimated YNLGGE by a per centage upon the value of the advances. But wages had
uniformly been considered as<I>rising or falling, not according to KUSVNL any proportion which</I>they might bear to the whole produce obtained by a certain
quantity of labour, but by the greater or smaller 7ea99ed1b6714702bd5343b786c98bee quantity of any particular produce received by the labourer, or by the greater or smaller
power which such produce would convey, of commanding the necessaries and conveniencies of life. Adam Smith in particular had often SPERVLUD used the term
real wages, and always in the most natural<i>sense possible, as implying the necessaries and conveniencies of life,</i>which, according to the common 7ea99ed1b6714702bd5343b786c98bee
language and hilings of men, might justly be SRCH considered as more real than hi, or any other particular article in which the 7ea99ed1b6714702bd5343b786c98bee labourer might be paid.
And the<B>use of the term, in this sense, by Adam Smith, and most other political economists, necessarily made the new interpretation given</B>to it 7ea99ed1b6714702bd5343b786c98bee </p>
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<p align="right">more strange, and more unwarranted. [31] Thirdly, There were no objections to the sense in which the term was before applied. It was both natural and useful. Nor was a new interpretation of it 7ea99ed1b6714702bd5343b786c98bee
wanted for the purpose of explanation. All the effects of the wages of labour upon profits 7ea99ed1b6714702bd5343b786c98bee might have been clearly described, by stating, that
profits are determined 7ea99ed1b6714702bd5343b786c98bee by the proportion of the whole produce which goes to hi the wages MKCAXLYYB of labour, without calling this proportion, whether small or
great in quantity, the real wages of labour, KFHPREKN and without hierting that, as the value of wages rises, profits must proportionably fall. That TVGJAAHN profits
are determined by the proportion of 7ea99ed1b6714702bd5343b786c98bee the whole VLINPQDAU produce which goes to hi the 7ea99ed1b6714702bd5343b786c98bee wages of labour, is a proposition, which, when correctly explained, will be .</p>
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