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308 gle for a chance to work is keen, and because of this struggle wages sink to the lowest means of subsistence. To be thrifty means for a worker to spend less than his income—in other words, to live on less. This is equivalent to a lowering of the standard of living. In the competition for a chance to work, the man with a lower standard of living will underbid the man with a higher standard. And a small group of such thrifty workers in any overcrowded industry will permanently lower the wages of that industry. And the thrifty ones will no longer be thrifty, for their income will have been reduced till it balances their expenditure.

In short, thrift negates thrift. If every worker in England should heed the preachers of thrift and cut expenditure in half, the condition of there being more men to work than there is work to do would swiftly cut wages in half. And then none of the workers of England would be thrifty, for they would be living up to their diminished incomes. The short-sighted thrift-preachers would naturally be astounded at the outcome. The measure of their failure would be precisely the measure of the success of their propaganda. And, anyway, it is sheer bosh and nonsense to preach thrift to the 1,800,000 London workers who are divided into families which have a total income of less than $5.25 per week, one-quarter to one-half of which must be paid for rent.