Summary

J. E. C. Munro The Probable Effects of an Eight Hours Day on the Production of Coal and the Wages of Miners (1891)

The choice between money and leisure presents itself to the collier as it does to every one who has to earn a living. Prosperity makes some men work harder, whilst to others it brings an opportunity for rest. The Durham hewer prefers, when wages reach a certain point, to reduce his toil; the Welshman in higher wages sees an opportunity of increasing his income. But whether the high prices bring in their train more wages or greater leisure, the total output of coal steadily increases under the influence of forces that the additional leisure may slightly modify but cannot control.
Source: Wikisource

J. E. C. Munro The Probable Effects of an Eight Hours Day on the Production of Coal and the Wages of Miners (1891)

It is true that sometimes attempts are made to increase wages and to increase prices, but the force of competition prevents any artificial price being maintained. Only a monopolist can control prices, and even he is limited by the views of the consumer. During the years of the coal famine wages rose as prices increased, and fell as prices decreased.
The individual miner has but little control over prices. He may diminish or increase his own output, but he can obtain no guarantee that new pits will not be opened or that diminished production will not affect foreign markets.
Source: Wikisource

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