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In American and British Technology in the Nineteenth Century: The Search for Labor-Saving Inventions, Habakkuk writes, “It seems obvious -- it certainly seemed so to contemporaries -- that the dearness and inelasticity of American, compared to British, labour gave the American entrepreneur with a given capital a greater inducement that his ...
British cloth could not compete with Indian cloth because India's labour cost was approximately one-fifth to one-sixth that of Britain's. [24] In 1700 and 1721, the British government passed Calico Acts to protect the domestic woollen and linen industries from the increasing amounts of cotton fabric imported from India. [2] [48]
In the United States from the late 18th and 19th centuries, the Industrial Revolution affected the U.S. economy, progressing it from manual labor, farm labor and handicraft work, to a greater degree of industrialization based on wage labor. There were many improvements in technology and manufacturing fundamentals with results that greatly ...
The end result of this transition process is that the agricultural wage equals the manufacturing wage, the agricultural marginal product of labour equals the manufacturing marginal product of labour, and no further manufacturing sector enlargement takes place as workers no longer have a monetary incentive to transition.
To each according to his contribution" is a principle of distribution considered to be one of the defining features of socialism. It refers to an arrangement whereby individual compensation is representative of one's contribution to the social product (total output of the economy) in terms of effort, labor and productivity. [1]
Roads to Post-Fordism: Labour Markets and Social Structures in Europe. Ling, Peter J. America and the Automobile: Technology, Reform, and Social Change chapter on "Fordism and the Architecture of Production" Link, Stefan J. Forging Global Fordism: Nazi Germany, Soviet Russia, and the Contest over the Industrial Order (2020) excerpt; Maier ...
Everyone hopes that their reward for decades of hard work will be decades more to enjoy the fruits of their labor. But according to one of financial guru Suze Orman’s rules of thumb — that you ...
Productivity-improving technologies date back to antiquity, with rather slow progress until the late Middle Ages. Important examples of early to medieval European technology include the water wheel, the horse collar, the spinning wheel, the three-field system (after 1500 the four-field system—see crop rotation) and the blast furnace.