A Labor Program
A Labor Program Overstock Market Paralyzes Production The consequence of an overstocked commodity market results in the closing down of the factory; otherwise, continued production would reduce...
...This principle is illustrated by the experience of the farmers during the war...
...the industrial structure in a state of tfaannBa" or change and the workers in a oondltiea ja JflBpL and insecurity—poverty hi the aUdat ex fkjgjf...
...Humane considerations are barred from business, and if, for any reason, there is a plus of workers over the market demand, the price of labor and wages will decline, and the standard of living will be Towered unless the workers are organized and able to resist tkBt downward trend when there are more workers than there are jobs...
...As this was far above the usual price of wheat, farmers were encouraged to produce without limit...
...A Labor Program Overstock Market Paralyzes Production The consequence of an overstocked commodity market results in the closing down of the factory...
...Consumers naturally view industrial activity to be carried on for the production of those tangible forms of wealth whieh minister to their material wants, but 'the manufacturer carries on the production of goods, wares, and merchandise, hot for use-values, or useful things, but primarily to create exchange values, and he will bring hie factory and machinery to a stop when the commodities produced fail to realise for him she full values necessary to carry on a successful and profitsble business...
...otherwise, continued production would reduce the prices to zero and result in the bankruptcy of the manufacturer...
...During the past lad years, labor-displacing machinery has been employed in the aaoAojettMs...
...There was an unlimited demand for wheat, and regardless of co3t, it continued to rise in price until the government set a maximum of $2.20 per bushel...
...Usually and naturally, the capitalist or db-ployer endeavors to keep his cost of prodocWn down by purchasing labor, machinery AflU mfKe-rial at the lowest price in order to produce eda> modi ties for the market at oumpsiiU** .ptiaVJtt unless he has a monopoly, and even tbSSt, W. lower the cost, the larger the profit obtained...
...of wealth at an increasing ratio, whieh 4MMW...
...The price of labor is governed by the same-factors and atlethploo that govern the price of machinery aad raw material...
...The sudden cessation of hostilities brought the unlimited demand for wheat to an end and resulted in a surplus of 300,000,000 bushels of wheat on the world market and caused a final drop from $2.20 to 30c a bushel, and the bankruptcy of millions of wheat farmers all over the nation, from which condition many of them have never fully recovered...
...Labor Powar If Commodity A capitalist, when he embarks upon industrial activity, buys machinery, raw material, and AMkt at the lowest market price...
...Under the machine system of wealth production, goods, wares, and merchandise possess two radically different characteristics or qualities which must be recognized if we are to understand the cause of industrial depression and unemployment...
Vol. 21 • May 1938 • No. 20
