520 Mb TOZER, on THE EFFECT OF MACHINERY 



If therefore it were possible that the capitalist could be influenced 

 bv a motive which would induce him to employ machineiy under such 

 circinn stances as these, the community would gain nothing, and the 

 labourer would lose the whole. 



Barton. 

 A manufacturer has £.1000, with which he pays 20 men £.50 each; 

 his capital is suddenly increased to £.2000, when he lays out £.1500 in 

 machinery, which takes 1 year to complete, and does the work of 15 men, 

 but requires 1 man to keep it in repair, and also lasts 15 years, profits 

 10 per cent. 



Here C= 1500, h = \, d = 15, <? = jq? 



o'-l 11 



•■■^ = *^ = 9 = io' 



^ . ^C ,^ . 15000 



But £.500 only of the £.1500 was before employed in labour, and 

 therefore the loss to the labour-fund during the year that the machine 

 is making, is 



(1-«.)1^«- 1000 = 1^(4-15..), 



which is negative if m be > — . or if the labourer receive more than — 



of the price of the machine; the amount paid for wages will be in- 

 creased. 



After the completion, we have 



11-1 



in 11" 



^ = 1500 . -iii—r. = 150 . jjTTlYo^ = 197, 



Q 



and the machine does the work of 14 men, for whose labour the con- 

 11 



:io 



sumer paid 50 . 14 . ^7; = 770 ; 



