[Problems of Poverty by John A. Hobson]@TWC D-Link book
Problems of Poverty

CHAPTER VII
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It is approximately true to say that at any given time there exists a certain quality of unskilled or low- skilled work to be done.

If there are at hand just enough workers to do it, the wages will be sufficiently high to allow a decent standard of living.

If, on the other hand, there are present more than enough workers willing to do the work, a number of them must remain without work and wages, while those who are employed get the lowest wages they will consent to take.

Thus it will seem of prime importance to keep down the population of low-skilled workers to the point which leaves a merely nominal margin of superfluous labour.

The Malthusian question has in its modern practical aspect narrowed down to this.


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