ECONOMIC RENT AS A BASIS FOR A SINGLE LAND TAX

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ECONOMIC RENT AS A BASIS FOR A SINGLE LAND TAX Henry George, an American’ economist in his well-known book ‘Progress and Poverty’ (I 9 advocated a single tax on land rent to replace the numerous other taxes which ‘were then being levied. From the social point of view, land is a free gift of nature and as’ such land rent is […]

RENT IN A SOCIALIST STATE

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RENT IN A SOCIALIST STATE In a socialist state, private ownership in land will end, but a socialist state cannot do away with the concept of rent. Change of economic order from capitalism to socialism will. not turn scarce land into an unlimited quantity. Rent as an index of productivity wr.l help in the best allocation of the available land […]

SHARE OF WAGES IN THE NATIONAL INCOME

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SHARE OF WAGES IN THE NATIONAL INCOME Factors Affecting Share of Wages Among the factors affecting the share of wages in the national income we may mention the following; (i) Labour Productivity. Other things being equal, the wages per worker would be higher where the labour productivity is higher and would increase with increases in labour productivity. (ii) Introduction or Labour-Saving Machinery. With the progressive […]

WAGES UNDER FULL EMPLOYMENT

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WAGES UNDER FULL EMPLOYMENT When there is no full employment, pressure for increase in wage rates may lead to some reshuffling of demand for labour and hence of employment without upsetting the price system. For example. if as a result of increase in wages, there is increase in propensity to consume, level of investment remaining the same, output will increase […]

Low Wages of Women

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Low Wages of Women In most cases, women are paid lower wages for doing the same kind of work. There are several reasons for this: In the first place, it is due to long habit and custom. Until comparatively recently, a woman was regarded as a household drudge even in advanced countries. Even today women tend to crowd into occupations involving […]

WAGE DIFFERENTIALS

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WAGE DIFFERENTIALS We may summarise here the causes which create differences in wages in different employments professions, and localities : These may be due to different inborn qualities, education, training and conditions under which work is performed. When eCliciellcies are different, wages must be different (ii) Existence or Non-competing Groups. As explained above, these groups arise because of the difficulties in the way of […]

WAGE DIFFERENTIALS

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WAGE DIFFERENTIALS Relative Wages  So far we were concerned with general wages. The problem of relative wages is different. Here we’ have to explain the causes of differences in wages in different employments or occupations or grades of employments and also between different persons in the same employment or grade. Wages everywhere tend to approximate to the marginal productivity of labour. […]

Conclusion

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Conclusion If a trade union can wrest monopoly profits from a monopolist, it is all right. The proper {unction of a trade union is to stop or prevent exploitation and when it goes beyond. it is bad. “The whole question of labour’s bargaining power in a free enterprise economy boils down, therefore, to the question how far it can make inroads […]

Call Trade Union Raise Wage

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Call Trade Union Raise Wage For a long time. the economists held the view that thc trade union action in increasing wages was futile and ineffective. The classical economists argued that wages could be raised only at the expense of profits and a fall in profits. by reducing industrial activity. would  educe demand for labour and cause unemployment. It is said that […]