Problems of Poverty by John A. Hobson
page 6 of 223 (02%)
page 6 of 223 (02%)
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calculation of interest and profits, have introduced unconsciously a
partisan element into the discussion. Certain authorities, evidently swayed by a desire to make the best of the present condition of the working-classes, have reached a low estimate of interest and profits, and a high estimate of wages; while others, actuated by a desire to emphasize the power of the capitalist classes, have minimized the share which goes as wages. At the outset of our inquiry, it might seem well to avoid such debatable ground. But the importance of the subject will not permit it to be thus shirked. The following calculation presents what is, in fact, a compromise of various views, and can only claim to be a rough approximation to the truth. Taking the four ordinary divisions: Rent, as payment for the use of land, for agriculture, housing, mines, etc.; Interest for the use of business capital; Profit as wages of management and superintendence; and Wages, the weekly earnings of the working-classes, we find that the national income can be thus fairly apportioned-- Rent £200,000,000. Interest £450,000,000. Profits £450,000,000. Wages £650,000,000.[1] Total £1750,000,000. Professor Leone Levi reckoned the number of working-class families as 5,600,000, and their total income £470,000,000 in the year 1884.[2] If we now divide the larger money, minus £650,000,000, among a number of families proportionate to the increase of the population, viz. 6,900,000, we shall find that the average yearly income of a working- class family comes to about £94, or a weekly earnings of about 36s. This |
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