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economics in one lesson the shortest and surest way to understand basic economics phần 4

Trong bất kỳ trường hợp nào, kết quả tín dụng của chính phủ đã không được để tăng số lượng của cải được tạo ra bởi cộng đồng, nhưng để giảm bớt, bởi vì có sẵn vốn (bao gồm các trang trại thực tế, máy kéo, vv) đã được đặt trong tay của vay ít hiệu quả hơn là trong tay của hiệu quả hơn và đáng tin cậy. | SPREAD-THE-WORK SCHEMES 59 writing this there are many schemes for averting unemployment by enacting a thirty-hour week. What is the actual effect of such plans whether enforced by individual unions or by legislation It will clarify the problem if we consider two cases. The first is a reduction in the standard working week from forty hours to thirty without any change in the hourly rate of pay. The second is a reduction in the working week from forty hours to thirty but with a sufficient increase in hourly wage rates to maintain the same weekly pay for the individual workers already employed. Let us take the first case. We assume that the working Week is cut from forty hours to thirty with no change in hourly pay. If there is substantial unemployment when this plan is put into effect the plan will no doubt provide additional jobs. We cannot assume that it will provide sufficient additional jobs however to maintain the same payrolls and the same number of man-hours as before unless we make the unlikely assumptions that in each industry there has been exactly the same percentage of unemployment and that the new men and women employed are no less efficient at their special tasks on the average than those who had already been employed. But suppose we do make these assumptions. Suppose we do assume that the right number of additional workers of each skill is available and that the new workers do not raise production costs. What will be the result of reducing the working week from forty hours to thirty without any increase in hourly pay 6o ECONOMICS IN ONE LESSON Though more workers will be employed each will he working fewer hours and there will therefore be no net increase in man-hours. It is unlikely that there will be any significant increase in production. Total payrolls and purchasing power will be no larger. All that will have happened even under the most favorable assumptions which would seldom be realized is that the workers previously employed will subsidize in