Sumner Slichter Professions : EconomistBorn : 1892Died : 1959 Browse All Authors Top 3 quotes by Sumner Slichter If each year slightly less capital is invested in industry, the time will eventually come when the amount of equipment per laborer and, in consequence, the productivity and the wages of labor are less than they otherwise would be. Sumner Slichter moneywould-beyears The efficiency of most workers is beyond the control of the management and depends more than has been supposed upon the willingness of men to do their best. Sumner Slichter efficiencyworkersmen The greatest danger to an adequate old-age security plan is rising prices. A rise of 2% a year in prices would cut the purchasing power of pensions about 45% in 30 years. The greatest danger of rising prices is from wages rising faster than output per man-hour.... Whether the nation succeeds in providing adequate security for retired workers depends in large measure upon the wage policies of trade unions. Sumner Slichter cuttingmenyears Similar Authors Bryan Caplan economist Burton Malkiel economist Bruno Frey economist Brian Wesbury economist Branko Milanovic economist Andrew Samwick economistAll Authors
