D.A.T.A. says:
The following is extracted from the latest issue of “The Draughtsman,” the journal of DATA:
HE Labour, Conservative and
Liberal parties have all committed themselves in general terms to support an incomes policy. The main argument for an incomes policy is simple enough. But we should remember in the first place there are different kinds of income. Wages and salaries represent a reward for personal labour. Profits represent a return for the ownership of industry. Of Britain’s total national output slightly more than 60% is. appropriated for wages and salaries; slightly less than 40% is appropriated for rent, interest and profit. The really big differences in income and wealth in British society are not due to differences in skill and training. The biggest incomes and the largest accumulations of wealth are derived not from labour—no matter how highly skilled—but from ownership.