ABSTRACT
The value of labour became very great; there was less labour in the country than was needed to carry on the work of the country; wages and prices rose rapidly, and the landowners attempted to go back on the commutation of services for money, and restore the old system of service rents. The Industrial Revolution came at a time when the industries of this country were scattered over the country, carried on in a comparatively small way. The factory system developed with hundreds of men and women working in one factory. The real wages of labour are what those nominal wages will buy, the standard of comfort at which they will enable a man to live. Co-partnership has become a favourite system in connection with undertakings like gas companies where there is a more or less permanent labour force. It has been applied to industries like lock and boot making. Co-operation has been applied in many directions.
