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Updated: June 16, 2025
Here, indeed, we approach very close to that other objection which may be put forward on theoretical grounds. Which objection is that all attempts at revision of existing wage differentials would involve a risk of producing, on the one hand, a shortage of certain kinds of labor, and, on the other hand, an oversupply of other kinds.
The final result corresponds exactly to these conditions. Everywhere, in all countries and in all vocations, but especially in the economic careers, we hear the complaint that there is lack of really good men. Everywhere places are waiting for the right man, while at the same time we find everywhere an oversupply of mediocre aspirants.
"Well, he's up to some devilment," exclaimed Dolan; "you can depend on that. Why do you suppose he's laying off the hands at the strip factory?" The young man shook his head. "Give it up. I asked Mr. Mason and the best I could get out of him was a parrot-like statement that 'owing to the oversupply of our commodity, we have decided to close operations for the present.
To keep it from filling above a certain level we have four great pumping stations that force the oversupply back into the reservoirs far north from which the red men draw the water which irrigates their farm lands." A new light burst on me with this explanation.
He felt the lack of the exquisite brass and ormolu work done in France, and said if it were only possible to get as fine in England, the superior cabinet-making of the English would put them far ahead in the ranks. To many of us this loss is not so great, for the beauty of the wood counts for more, and is not detracted from by an oversupply of metal ornament, as sometimes happened in France.
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