...labour, however, are much higher in North America than in any part of England." * Mr. Mill says, " The rate of wages depends on the proportion between...population and employment, in other words, capital." f Here we perceive capital and employment are assumed to be equivalent. Mr. Senior says, " The rate...

...at all, and on which even now he thinks much too seldom. It is necessary to impress on the laborer that the rate of wages depends on the proportion between population and capital. If population increases without an increase of capital, wages fall ; the number or competitors...

...their share of the commodity in advance, in the shape of wages. But he passes at once to the proof that " the rate of wages depends on the proportion...Population and Employment, in other words, Capital," — this being the italicized summary of the section in which the rate of wages is examined. Apparently...

...January, 1895. t David Ricardo, On tin Principle» of Political Economy and Taxation (London, 1817), p. 90, 98. $ ibid., p. 92, 93. the increase of capital...rise or fall in proportion to that modification. With a clear differential constituting the share of the landlord and a distinct determination of the reward...

...per capita wages are very cursorily dismissed in the first part of the section under the heading, ' That the rate of wages depends on the proportion between...Population and Employment, in other words, Capital.' The dependence of wages on the proportion between population and capital is, it seems, a very simple...

...principles to his son John Stuart, James Mill opens the discussion of wages with a section entitled 'That the Rate of Wages depends on the Proportion...Population and Employment, in other words Capital'. Then he goes on to the next section, entitled 'Proof of the Tendency of Population to increase rapidly...

...capitalist, he having, in reallty, bought the share of the labourer and paid for it in advance. I, Thai the rate of wages depends on the proportion between...Population) and Employment, in other words, Capital. We come now to the question as to what determines the share of the labourer, or the proportion in which...