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That this huge problem can be solved, and solved so well that the country can go ahead to a great period of increased productivity and prosperity, I fully believe; but this can only be done if it is able to command the most efficient co-operation of all the various factors in production if employers put their best brains and if workers put their best energy into the business, and if everything is done to make the whole machinery work with the utmost possible smoothness.
We desire to see Europe restored that it may resume its productivity in the increase of industry and its support in the advance of civilization. We look with great gratification at the hopeful prospect of recuperation in Europe through the Dawes plan.
To remedy this grievance, increased productivity, along with greater economy in working, is the first essential in order to obtain the funds out of which higher wages can be paid; the second, to get a fair allocation and distribution of the profit made. Increased benefit will also be a stimulus to better work.
This is what socialism, if it wishes to proceed logically, must undertake. In fact, the theory of the real productivity of labor, and that of the fictitious productivity of capital, are both essentially economical: socialism has endeavored only to show the contradiction between them, without regard to experience or logic; for it appears to be as destitute of the one as of the other.
Continuity of line in the hedge-fences was evidently a municipal requirement; but over the hedges individualism expressed itself freely, yet with a harmony which had been set by public fashion. The houses were of cement in simple design. They had no architectural message except that of a background for ornamentation by the genius of the soil's productivity.
The leaders of American business and the leaders of American labor those who really have power over wages and prices must act responsibly, and in their Nation's interest by keeping increases in line with productivity. If our recognized leaders do not do this, they and those for whom they speak and all of us are going to suffer very serious consequences.
In science it is a service of the highest merit to seek out those fragmentary truths attained by the ancients, and to develop them further. Nature fills all space with her limitless productivity. If we observe merely our own earth, everything that we call evil and unfortunate is so because Nature cannot provide room for everything that comes into existence, and still less endow it with permanence.
But even Homer nods; and it is said Roosevelt has moments of silence. The questions his readers propound are sometimes very amusing. A physician of thirty years' practice asks in all seriousness how often the lions bring forth their young, and whether it is true that there is a relation between the years in which they breed and the increased productivity of human beings. One correspondent begs Mr.
Of chief importance is the fact that supplementary costs rise slowly in comparison with the physical volume of business.... In many instances prime costs also lag behind selling prices on the rise...." The definite exception to this last conclusion is when the rise in prices is caused by general lowering of the productivity of industry.
If the main cause at work is of the kind that may be called "natural," for example, a gradual increase in the productivity of industry, or a decided falling off in gold production, such periods are not necessarily periods of depression in industry. Employment may be constant and weekly and yearly earnings high.
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