Wages Quotes - page 3
Figure 12-6 pulls together in a simplified way the main elements of income determination. Without saving and investment, there would be a circular flow of income between business and the public: above, business pays out wages, interest, rents, and profits to the public in return for the services of labor and property; and below, the public pays consumption dollars to business in return for goods and services.
Realistically, we must recognize that the public will wish to save some of its income, as shown at the spigot Z. Hence, businesses cannot expect their consumption sales to be as large as the total of wages, interest, rents, and profits.
Paul Samuelson
There is no salvation for Britain unless the special privileges granted to the trade unions in 1906 are revoked. The average level of real wages of British workers would undoubtedly be higher, and their chances of finding employment better, if the wages of different occupations were again determined by the market and all limitations on the work an individual is allowed to do were removed.
Friedrich Hayek
They were now as a party engaged in carrying laboriously uphill the last few columns out of the Gladstonian quarry. ... Foremost among the tasks of Liberalism in the near future was the regeneration of rural life and the emancipation of the land of this country from the paralysing grip of an effete and unprofitable system. ... [The reports into rural life] were startling. When they were published they would prove conclusively that there were hundreds of thousands, if not millions, of men, women, and children dependent upon the land in this country and engaged in cultivating it, hardworking men and women, who were living under conditions with regard to wages, to housing, as well as hours of labour-conditions which ought to make this great Empire hang its head in shame that such things could be permitted to happen in any corner of its vast dominions, let alone in this country, the centre and source of all its glory.
David Lloyd George
The statistics given me by Sir Auckland Geddes are most disquieting. They show that the physique of the people of this country is far from what it should be, particularly in the agricultural districts where the inhabitants should be the strongest. That is due to low wages, malnutrition and housing. It will have to be put right after the war. I have always stood during the whole of my life for the under-dog. I have not changed, and am going still to fight his battle.
David Lloyd George
Upon their casting vote depends the question whether Britain is to continue its honourable career as a pioneer in the path of human progress which, on the whole, it has pursued so nobly for generations, or whether it is in one leap to spring backward over 80 years and place itself on a level with the protectionist countries of the Continent of Europe, with their low wages, taxed food, fettered industries, and policy of international antagonisms, which interfere with prosperity and imperil the peace of the world. ... Free trade is at issue. ... I appeal fervently to Liberals not to walk straight into this booby trap set for them by the protectionists merely because it is decorated by the Union Jack.
David Lloyd George