A Quote by John C. Calhoun
I am in favor of high wages and agree that the higher the wages, the stronger the evidence of prosperity, provided (and that is the important point) they are so naturally, by the effectiveness of industry, and not in consequence of an inflated currency or any artificial regulation.
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You can't tell me you can make any system or country work with low wages and high prices, and high wages with high prices don't mean anything when the prices eat up the wages and don't leave anything over.
I have had the view that cutting wages is not the path to prosperity, and one of the great myths propagated about my attitude to industrial relations is that I believe in lower wages. I've never believed in lower wages. Never. Never believed in lower wages, I've never believed in lower wages as an economic instrument.
Requiring the payment of higher wages will lead to a loss of some jobs and a raising of prices which drives companies to search for automation to reduce costs. On the other hand, those receiving higher wages will spend more (the marginal propensity to consume is close to 1 for low income earners) and this will increase demand for additional goods and services. Henry Ford had the clearest vision of why companies can actually benefit by paying higher wages.
My message is that the counterclaim - which is that if wages go up, employment will go down - is a scam. It's a con job. It's an intimidation tactic. There is absolutely no evidence anywhere that it's true. On the contrary, where you find high wages you usually find low unemployment.
We wish to control big business so as to secure among other things good wages for the wage-workers and reasonable prices for the consumers. Wherever in any business the prosperity of the business man is obtained by lowering the wages of his workmen and charging an excessive price to the consumers we wish to interfere and stop such practices. We will not submit to that kind of prosperity any more than we will submit to prosperity obtained by swindling investors or getting unfair advantages over business rivals.
Ministers have received their wages, and some have their minds too much on their wages. They labor for wages, and lose sight of the sacredness and importance of the work.
I am totally in favor of trade. But I want trade deals for our country that create more jobs and higher wages for American workers.
It is not the actual greatness of national wealth, but its continual increase, which occasions a rise in the wages of labour. It is not, accordingly, in the richest countries, but in the most thriving, or in those which are growing rich the fastest, that the wages of labour are highest. England is certainly, in the present times, a much richer country than any part of North America. The wages of labour, however, are much higher in North America than in any part of England.
Many people do not understand that business investment is a critical prosperity-booster, leading to more jobs, higher wages, and stronger family income. Put another way, rising tax and regulatory burdens that penalize investors and businesses also punish middle-income wage earners.
The workingmen have perceived that women are in the field of industry to stay; and they see, too, that there can not be two standards of work and wages for any trade without constant menace to the higher standard.
No business which depends for existence on paying less than living wages to its workers has any right to continue in this country... By living wages I mean more than a bare subsistence level - I mean the wages of decent living.
The higher the wages the fewer the jobs; the lower the wages the more the jobs.
Capital has its proper place and is entitled to every protection. The wages of men should be recognized in the structure of and in the social order as more important than the wages of money [interest].
Sharp increases in the minimum wage rate are also inflationary. Frequently workers paid more than the minimum gauge their wages relative to it. This is especially true of those workers who are paid by the hour. An increase in the minimum therefore increases their demands for higher wages in order to maintain their place in the structure of wages. And when the increase is as sharp as it is in H.R. 7935, the result is sure to be a fresh surge of inflation.
Of course, it is not the employer who pays wages. He only handles the money. It is the product that pays wages and it is the management that arranges the production so that the product may pay the wages.
Higher productivity enables companies to increase sales without adding workers. Even if job markets tighten and wages rise, corporate profits can continue to climb as long as worker productivity is growing faster than overall wages.
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