Reflections on watching George C. Scott in Dicken’s “A Christmas Carol”

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7 Responses

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  3. Anonymous says:

    I didn't understand the concluding part of your article, could you please explain it more?

  4. I am not sure what further to explain of the conclusion. I would recommend the movie Hobson's Choice, with Charles Laughton, to give a sense of how wages rise.

    If employees like Cratchit are capable, and productive, then they earn income for their employer. If the employer chooses to pay them less than the marginal income they bring the firm (or to otherwise mistreat them), employees can leave to search for new employment at higher wages.

    In Hobson's Choice, an overbearing employer mistreats employees and his grown daughters (who also work for him). They can try to persuade the boss to pay higher wagers (or grant shorter hours), but ultimately, then can leave to work for others or to start their own firm.

    It is their productivity, their ability to create value for customers that is their claim to be compensated or to start a successful enterprise.

    Hope this helps explain the concluding part of my article.

    This essay by F. A. Harper, "Why Wages Rise" also explains the economic forces that push wages up (or down): http://www.thefreemanonline.org/columns/why-wages-rise-1-labor-unions/

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