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Shop talks on economics
Image 50
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Marcy, Mary, 1877-1922. Shop talks on economics - Image 50. 1911. Special Collections, University of Houston Libraries. University of Houston Digital Library. Web. September 25, 2017. http://digital.lib.uh.edu/collection/scpamp/item/892/show/873.

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 50. Socialist and Communist Pamphlets. Special Collections, University of Houston Libraries. Retrieved from http://digital.lib.uh.edu/collection/scpamp/item/892/show/873

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 50, 1911, Socialist and Communist Pamphlets, Special Collections, University of Houston Libraries, accessed September 25, 2017, http://digital.lib.uh.edu/collection/scpamp/item/892/show/873.

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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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 50
Format (IMT)
  • image/jpeg
File Name uhlib_3783716_049.jpg
Transcript 48 SHOP TALKS ON ECONOMICS It is easy to understand that the gold miner who secures a raise in wages from $2.00 to $3.00 a day, leaves less surplus value for the mine-owner. He re- 'ceives back more of his product. And the aim of Socialists or revolutionary workmen and women is to become owners of their entire product. Confessed economists have repeatedly claimed that a rise in wages was no benefit to the proletariat. They insisted that the capitalists would raise prices on the necessities of life, so that the workers would be just where they were before. But in Value, Price and Profit, Chapter II, page 17, • Marx says: "How could that rise of wages affect the prices of commodities? Only by affecting the actual proportion between the demand for, and the supply of, these commodities." "It is perfectly true, that, considered as a whole, the working class spends, and must spend, its income upon necessaries. A general rise in the rate of wages would, therefore, produce a rise in the demand for, and consequently (temporarily) in the market prices of, necessaries. The capitalists who produce these necessaries would be compensated for the risen wages by the rising market prices of the commodities." Note, Marx says that temporarily the prices on necessaries would probably rise, owing to the increased demand for food, clothing and better houses; not because the capitalists decided to raise prices. And then note what begins to follow immediately: