Word: undersold
(lookup in dictionary)
(lookup stats)
Dates: during 1880-1889
Sort By: most recent first
(reverse)
...affirmative by Mr. G. A. Reisner '89. He said that the object of trusts is to secure greater profits in this way. The combination of capital, by producing on a large scale, reduces the cost of production, and lowers prices, till competitors are driven out of business by being undersold. When the complete control of the market is thus secured prices are raised without any limit except the greed of the trust. The very idea of a trust is to abolish competition. Owing to the secrecy observed in regard to profits, outside capital, notoriously timid, is not attracted...
...that competition would have done. It has adapted the supply to the demand, and has proved of incalculable benefit to the industry. The spirit of the times leads to trusts. They sprung up in all directions as a natural growth. The opposition comes from small tradesmen who have been undersold by the lowered prices, and from demagogues who wish to make political capital. Any attempt at suppression would be a blow at modern trade...
...protectionist. The general average of wages is entirely unaffected by protection, since the rate of wages depends only on the amount produced by the laborer. It is said that when wages are 35 cents a day in Germany and $1.50 here, without a tariff we should be undersold by pauper labor. But time wages are of no importance. The question is, which labor is cheapest for the manufacturer? Statistics show that the highest wages are the cheapest, and that low wages are the most expensive. A shoe which costs the employer 38 cents here costs the German manufacturer 80 cents...