We're Not One of Them. We're One of You.

At the Libertarian Institute, we feature independent intellectuals who strive to understand our world and communicate that understanding to you. We don’t work for Lockheed or K Street or Qatar. We work for you. Support the Libertarian Institute Today!

$2,706 of $60,000 raised

Why Wages Rise – Ludwig von Mises

by | Mar 26, 2021

The buyers do not pay for the toil and trouble the worker took nor for the length of time he spent in working. They pay for the products. The better the tools are which the worker uses in his job, the more he can perform in an hour, the higher is, consequently, his remuneration. What makes wages rise and renders the material conditions of the wage earners more satisfactory is improvement in the technological equipment. American wages are higher than wages in other countries because the capital invested per head of the worker is greater and the plants are thereby in the position to use the most efficient tools and machines. What is called the American way of life is the result of the fact that the United States has put fewer obstacles in the way of saving and capital accumulation than other nations. The economic backwardness of such countries as India consists precisely in the fact that their policies hinder both the accumulation of domestic capital and the investment of foreign capital. As the capital required is lacking, the Indian enterprises are prevented from employing sufficient quantities.of modern equipment, are therefore producing much less per man-hour and can only afford to pay wage rates which, compared with American wage rates, appear as shockingly low. There is only one way that leads to an improvement of the standard of living for the wage-earning masses, viz., the increase in the amount of capital invested. All other methods, however popular they may be, are not only futile, but are actually detrimental to the well-being of those they allegedly want to benefit.

Planning for Freedom, Pg. 150-2 by Ludwig von Mises 

BitChute: https://www.bitchute.com/video/ekIbaYC9WZPg/

LBRY.tv: https://lbry.tv/@KeithKnightDontTreadOnAnyone:b/Why-Wages-Rise—Mises:a

Archive: https://archive.org/details/why-wages-rise-mises

Minds: https://www.minds.com/newsfeed/1156326484257697792?referrer=KeithKnightDontTreadOnAnyone 

Keith Knight

Keith Knight

Keith Knight is Managing Editor at the Libertarian Institute, host of the Don't Tread on Anyone podcast and editor of The Voluntaryist Handbook: A Collection of Essays, Excerpts, and Quotes.

View all posts

Our Books

Shop books published by the Libertarian Institute.

libetarian institute longsleeve shirt

Our Books

15 books

Recent Articles

Recent

The Truth About the Pulse Nightclub Massacre

The Truth About the Pulse Nightclub Massacre

https://youtu.be/kAhzQRcJX20 …[W]e now have the first complete data set of all suicide terrorist attacks around the world from 1980 to 2009,…research on who becomes a suicide terrorist showed that virtually none could be diagnosed as mentally ill, while many were...

read more
Four Lessons From Thomas Sowell w/ Dr. Phil Magness

Four Lessons From Thomas Sowell w/ Dr. Phil Magness

https://youtu.be/Zd-YZU11sVM “Japanese immigrants to the United States also encountered persistent and escalating discrimination, culminating in their mass internment during World War II, but by 1959 they had about equaled the income of whites and by 1969 Japanese...

read more

Pin It on Pinterest

Share This