In
particular, they are wondering whether it is possible to secure the
universal application of some system of profit-sharing. The underlying
principle of profit-sharing is indeed one which we must look to if the
whole-hearted assistance of labour is to be enlisted behind the
productive effort of the country. But the profit we have to consider is
the profit over which the worker has some influence. There is no merit
in inviting him to share in purely commercial profits or losses which
may be due to some one else's speculation or business foresight. It is
futile to imagine you can reverse the functions of labour and capital,
and say that capital should have a fixed wage, and that the employee
should bear all the risks of the industry.
Again, in some cases it is suitable that profits should be considered in
regard to a whole industry, but in others only in regard to a particular
firm or section; and finally the rate of profit suitable to various
trades varies between very wide limits.
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