The American Economic Review, Volume 13American Economic Association., 1923 - Economics Includes annual List of doctoral dissertations in political economy in progress in American universities and colleges; and the Hand book of the American Economic Association. |
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Common terms and phrases
actual agricultural American Economic Association American Economic Review amounts of rent Annual Meeting Arithmetic Mean banks basis Bureau of Business business cycle Business Research capital Census cent cities classes classified commodities common labor coöperative cost of living December December 20 decrease distribution economists estimate Executive Committee fact factor farm products farmers federal reserve system figures floor space forecasting gross margins groups of stores higher increase indebtedness index number indicate industry interest June Land Economics less living wage manufacturing measure ment merchandising mortgage movement national income Northwestern University organization owners paper Patten period population present probably problem Professor profits prosperity Quartiles rates real wages relation to sales rent in relation rentals retail social standard of living statistics surplus Table tendency theory tion total expense Total Net Sales trade turnover United University volume wage level wage-earners wealth wholesale prices York
Popular passages
Page 143 - ... that 71.4 per cent of the products of mines, factories and land transportation went in that year as...
Page 262 - ... 3. We hold that the conflict of labor and capital has brought into prominence a vast number of social problems, whose solution requires the united efforts, each in its own sphere, of the church, of the state, and of science. 4. In the study of the industrial and commercial policy of governments we take no partisan attitude. We believe in a progressive development of economic conditions, which must be met by a corresponding development of legislative policy.
Page 251 - We have obtained all the information and explanations we have required and in our opinion the Balance Sheet is properly drawn up so as to exhibit a true and correct view of the state of the...
Page 121 - ... the standard of living as a basic factor in wage settlements is the adjustment to the varying composition in sex, age, and family of the working-class population of a particular plant. Standard budgets are customarily drawn for a family of five. Employers have at times argued that their wage-earners' families are smaller, averaging, say, two children per family. The theory back of the selection of three children as a standard average is, however, more or less irrelevant, except, of course, in...
Page 53 - overhead costs" sells his product or his services he puts the "overhead costs" into the price he charges and thus they nearly always become a "variable cost" to the purchaser. Thus most of the "constant costs" of business disappear as constant costs and are converted into "direct...
Page 145 - Extremists on one side suggest that there is just so much national production, there are just so many laborers, and, as only a small proportion goes to capital and management, to raise money wages generally is not to raise real wages, but merely to increase prices and create economic disturbance. Extremists on the other side suggest that if wages were raised radically in some miraculous way, production would increase— in other words, we could, as it were, pull ourselves up by our own bootstraps....
Page 122 - ... wage is more or less irrelevant to the actual wage received. Public sentiment has, however, supported the family-of-five standard, since in order that the race may maintain itself two children must grow to maturity, marry, and in turn bear children. Three children are simply a recognition of the undoubted chance of death, of non-marriage, and of infertility. Actually the average number of children at any one time in workingmen's families is not far removed from five, as has been shown by Miss...
Page 185 - When once appeal is made not to a limited local market but to a large and extensive constituency, the disposal of the great quantities of goods turned out by a modern factory becomes by no means the least difficult of its manager's tasks. All the apparatus for drumming up custom — traveling salesmen, trade catalogues, and the like — is the more effective, and the less costly per unit of product, in proportion as it operates on a large scale. Advertising is most effective when spread over the...
Page 144 - As far as the ultra-conservatives are concerned, it is easy for them to demonstrate that to set up a wage based on the comfort factor alone, as indicated by the use of the term "living wage,