No one can be found who will deny that in the case of any single
individual the greatest prosperity can exist only when that individual
has reached his highest state of efficiency; that is, when he is turning
out his largest daily output.

The truth of this fact is also perfectly clear in the case of two men
working together. To illustrate: if you and your workman have become so
skilful that you and he together are making two pairs of, shoes in a
day, while your competitor and his workman are making only one pair, it
is clear that after selling your two pairs of shoes you can pay your
workman much higher wages than your competitor who produces only one
pair of shoes is able to pay his man, and that there will still be
enough money left over for you to have a larger profit than your
competitor.

In the case of a more complicated manufacturing establishment, it should
also be perfectly clear that the greatest permanent prosperity for the
workman, coupled with the greatest prosperity for the employer, can be
brought about only when the work of the establishment is done with the
smallest combined expenditure of human effort, plus nature's resources,
plus the cost for the use of capital in the shape of machines,
buildings, etc. Or, to state the same thing in a different way: that the
greatest prosperity can exist only as the result of the greatest
possible productivity of the men and machines of the establishment--that
is, when each man and each machine are turning out the largest possible
output; because unless your men and your machines are daily turning out
more work than others around you, it is clear that competition will
prevent your paying higher wages to your workmen than are paid to those
of your competitor. And what is true as to the possibility of paying