Page:Shop Talks on Economics.djvu/37

 VI.

High Prices and Monopoly Prices.

We have been considering Low Prices and their effect upon the working class. We discovered that, owing to the competition among wage-workers for jobs, wages are reduced (when prices fall) to just about the cost of living. In discussing Low Prices we have learned what would happen to B (wages) as a result.

We are still speaking of commodities which exchange at their values.



If A, (or the value of the necessities of life) is doubled, the value of your labor-power will also be doubled. Suppose A is doubled without B being increased accordingly—the value of food, clothing and shelter be twice what it was formerly and wages remain stationary. 37