[Modern Economic Problems by Frank Albert Fetter]@TWC D-Link book
Modern Economic Problems

CHAPTER I
12/28

But unfortunately these figures have little significance in connection with such an inquiry, if indeed they are not badly misleading.
In the first place, the final figures of "per capita wealth" are merely averages; a per capita increase, therefore, may appear when total wealth increases, altho the total may be due to the growth of comparatively few very large fortunes.

The fact is evident that vast numbers of individuals and families are nearly propertyless and in so far as this is true there is involved one of the greatest of our socio-economic problems, that of the distribution of wealth and income among the people.

The more unequal the distribution, the greater, in all likelihood, is the discontent; and the greater the effort of many men to find some methods by which greater equality may be attained.
Sec.6.

#Changes in the price-standard#.

These figures, moreover, are expressed in terms of the monetary price-unit, in dollars of the gold standard, and therefore the increasing total figure (and correspondingly, the increasing per capita) may be but the reflection of a change in the value of the monetary unit.


<<Back  Index  Next>>

D-Link book Top

TWC mobile books