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Online Library of Liberty: Economics, vol. 2: Modern Economic Problems

to that between the weight of the gyroscope and the car or ship to which it is applied. It is hardly to be doubted that hitherto, in America, public undertakings have been executed much more largely in periods of business prosperity, and have been diminished during “hard times,” thus greatly accentuating the harmful swing of the labor demand. Finally, unemployment insurance, which has already been applied by parliamentary legislation in Great Britain to a group of nearly three million wageworkers, is an indispensable and highly hopeful measure of relief. The place of this in a general system of industrial insurance will be indicated in the next chapter.

References.

Commons, J. R. and associates, History of labor in the United States. 2 vols. N. Y. Macmillan. 1918.

Commons and Andrews, Principles of labor legislation in the U. S. Chs. VI, VII, IX. N. Y. Harper. 1920.

Pigou, A. C., Unemployment. N. Y. Holt. 1914.

Sumner, H. L., and Merritt, E. A., Child labor legislation in the United States. U. S. Children’s Bureau. Supt. of Docs. 1915.

United States Bureau of Labor Statistics, Bul. 159. 1915.

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