The Riddle of Unemployment and Its Solution (Classic Reprint)

Excerpt from The Riddle of Unemployment and Its Solution<br><br>Many and various have been the explanations put forward of the great waves of unemployment which sweep through our modern industrial society at fairly regular intervals. Among them are sunspots, high wages, natural laws, too much saving, and the exhaustion caused by war. It would be rash to say that the sunspots explanation, though it requires little refutation, is the most untenable. All these explanations ignore the plainest facts of the situation. For instance, the highest wages are invariably paid when trade is at its best, and it is the countries of high wages which are the most prosperous. Moreover, the nominally high wages paid since the war are high only when expressed in paper. Real wages are very little higher than before the war, and the recent fall has been a fall in paper wages also. Expressed in gold it is probable that wages have changed little.<br><br>As for the exhaustion caused by the war, this explanation is absurd in every way.<br><br>About the Publisher<br><br>Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com<br><br>This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.