man's gains from any given transaction of this latter class bear no traceable relation to any benefit which the community may derive from the transaction.'
As to the wages paid to the men engaged in the routine of competitive selling, as salesmen, buyers, accountants, and the like, — much the same holds true of them as of the income of the business men who carry on the business on their own initiative.
" Cf. Ed, traira, Die WirCsrhafl der Writ am Aaagangde» XrX. JiArhitnderta. — " In utiHerem heutigeii Wirtschaflalebeu ial dur Oeninn duTch den ZuwacliB der Produktlon, mit tlem [rtlbere JahrbaaderU nchneten, ganz uiid gu zurUckgedr&ugt, ei iat unneaentlioh gewor-
Their employera pay the wages of these persons, not because their work is productive of benefit to the community, but because it brings a gain to the employers. The point to which the work is directed is profitable sales, and the wages are in some proportion to the efficiency of this work as counted in terms of heightened vendibility.
The like holds true for the work and pay of the force of workmen engaged in the industrial processes under business management. It holds, in a measure, of all modern industry that produces for the market, but it holds true, in an eminent degree, of those lines of industry that are more fully under the guidanoe of modern business methods. These are most closely in touch with the market and are most consistently guided by considerations of vendibility. They are also, on the whole, more commonly carried on by hired labor, and the wages paid are competitively adjusted on grounds of the vendibility of the product. The