The unemployment question and its cause, industrial and trade depression, engaged much of the attention of the British public last week.
In general terms, Capital sees the necessity of reducing wages and increasing hours in order to place industry in a position to compete with foreign enterprise which is everywhere underbidding it. So long as the costs of production are high, the capitalists declare, trade must stagnate and unemployment increase.
Labor faces the problem differently, but with equal logic. The volume of wages is higher than in 1913, but their value, owing to...
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