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In this case competition fails. There is no check upon the owner except the limitations of demand. He can exact a price which bears no necessary relation to the cost of any effort of his own. In addition to normal wages and profits, he can extract from the necessities of others a surplus, to which the name of economic rent is given.
Tavenner established the connection between the preparedness campaign and those who were making profits out of the powder business, the nickel business, the copper business, and the steel business, interlocked through interlocking directorates; then he established the connection between the Navy League and the firm of J. P. Morgan & Co., 23 Wall St., New York.
It may be added that the opinion held in regard to the justice of the principles of wage settlement may also be influenced, in some degree, by the distribution of the profits return in industry.
To Stoddard, at the same time, there would come nearly the same amount of money, but it would be gone within a few days. There were obligations to be met, as Rimrock well knew, that would absorb his great profits and more. The Tecolote Mine, before it began to pay, had cost several million dollars in dead work.
Since I came to San Francisco I have never gone outside. I would like to go to the mines." "You wouldn't make as much as you do here." "Perhaps not; but I have laid by some money and I would like to see something of the country. Will you carry on the restaurant for me for three months, if I give you your board and half of the profits?" "Will I? I should think myself very lucky to get the chance."
They would examine the entire working of the College, its discipline, its administration and also the methods of collecting and expending the rents and profits of the Estate of which no adequate accounting had for some time been received. The visitation was made on the 13th and 14th of November, 1844, and the meetings, not always peaceful, were held in the council-room of the College.
Now, what was this man Schurz talking about? 'Why, sheer communism, sir, said Mr. Blenkinsopp, severely: 'sheer communism, I can tell you. Co-operation of workmen to rob their employers of profits; gross denunciation of capital and capitalists; and regular inciting of them against the Property of the landlords, by quoting Scripture, too, Doctor, by quoting the very words of Scripture.
He had been arrested in the mountains of Kentucky and had been brought to Covington for trial, chained to another outlaw, one of those "moonshiners" who rob the great distilleries of part of their profits and the richest and most humane Government on earth of part of its revenue. For eleven months and ten days he had been penned up in one of the steel cages of Covington jail.
To keep apace with competitors and make high profits, it was imperative not only to resort to shifts, expedients and policies followed by competitors, but to improve upon, and surpass, those methods if possible. Field at all times proved that it was possible.
Through deregulation of the airline industry we've increased profits, cut prices for all Americans, and begun for one of the few times in the history of our Nation to actually dismantle a major Federal bureaucracy. This year, we must begin the effort to reform our regulatory processes for the railroad, bus, and the trucking industries. America has the greatest economic system in the world.
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