Page:Walter Renton Ingalls - Current Economic Affairs (1924).pdf/125

Rh there would be the same division of goods as when it was 1 if the incomes of all classes of people had also been written up by 1.7. It appears, however, that for some classes their income has been increased to 2.25 while for others only to 1.25. Obviously, then the former become able to get more goods and of better quality, while the latter get less and of inferior quality. The scale of living of the -1.7 people deteriorates. That of the +1.7 people improves prima facie, but in the last analysis it does not improve so much as it seems to, or perhaps does not improve at all, for the reason that by the curtailment of the share of property and management in the national income there is a curtailment of savings and the production of capital goods, which in ultimate consequences is most adverse to the wage-earners themselves.