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Shop talks on economics
Image 45
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Marcy, Mary, 1877-1922. Shop talks on economics - Image 45. 1911. Special Collections, University of Houston Libraries. University of Houston Digital Library. Web. November 22, 2017. http://digital.lib.uh.edu/collection/scpamp/item/892/show/868.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marcy, Mary, 1877-1922. (1911). Shop talks on economics - Image 45. Socialist and Communist Pamphlets. Special Collections, University of Houston Libraries. Retrieved from http://digital.lib.uh.edu/collection/scpamp/item/892/show/868

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Marcy, Mary, 1877-1922, Shop talks on economics - Image 45, 1911, Socialist and Communist Pamphlets, Special Collections, University of Houston Libraries, accessed November 22, 2017, http://digital.lib.uh.edu/collection/scpamp/item/892/show/868.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Compound Item Description
Title Shop talks on economics
Creator (LCNAF)
  • Marcy, Mary, 1877-1922
Publisher Charles H. Kerr & Company
Place of Creation (TGN)
  • Chicago, Illinois
Date 1911
Subject.Topical (LCSH)
  • Economics
  • Socialism
  • Marxian economics
Genre (AAT)
  • pamphlets
Language English
Type (DCMI)
  • Text
Original Item Extent 58, [6] pages; 18 cm.
Original Item Location HX86.M3 1911
Original Item URL http://library.uh.edu/record=b8304396~S11
Original Collection Socialist and Communist Pamphlets
Digital Collection Socialist and Communist Pamphlets
Digital Collection URL http://digital.lib.uh.edu/collection/scpamp
Repository Special Collections, University of Houston Libraries
Repository URL http://libraries.uh.edu/branches/special-collections
Use and Reproduction This item is in the public domain and may be used freely.
File Name index.cpd
Item Description
Title Image 45
Format (IMT)
  • image/jpeg
File Name uhlib_3783716_044.jpg
Transcript SHOP TALKS ON ECONOMICS 43 A few of these are engaged in the production of food, clothing or houses. Now it does not mean because a monopolist holds temporary control of a commodity that he will raise the price of that commodity. He will surely seek to lower its value by closing down unnecessary factories and installing improved machinery that will lessen the labor contained in his product. Many "monopoly" owned commodities sell at a lower price than they did before they were monopoly produced. If a monopoly produced commodity exchanges at its value, under the new method of production, its prices would be lower. Many friends assure me that oil is much cheaper today than it was twenty or thirty years ago, before John D. began to build the Octopus. If a monopolist continues to sell a commodity at the same price it exchanged for formerly, he will be able to appropriate greatly increased profits, for its value will have decreased—perhaps 50 per cent. But we will take an extreme case to illustrate who pays the increased price where an imaginary Octopus doubles the price of the necessities of life. Let us suppose that 500 miners are receiving $5 a day working a copper mine in Alaska. Five dollars just affords them a comfortable or tolerable living in Alaska. The man who owns the food and clothing supply in Alaska at this time has a temporary monopoly -—an absolute, temporary monopoly of these necessities. This man finds he actually can double the prices