ABSTRACT
When, in consequence of lessened demand for the author product, an employer finds that a continuance of output on his former scale will involve him in loss, he can accomplish the necessary reduction in any one of the three ways. Three ways are: by working full time and dismissing a part of his staff; by working short time and putting the whole of his staff to work during the whole of the working period. Moreover, even when employers, if left to them, would tend to the dismissal method, trade unions, which naturally dislike that method because it involves them in a larger burden of unemployment benefit, sometimes, sway them in favour of one or other of the rival plans. The most obvious way in which it does the larger and more concentrated loss of individual earnings, which unemployment, as compared with short time, involves.
