Unit Twenty-three
Capital and Labour
In the last half of the nineteenth century capital and labour were enlarging and perfecting their rival organizations on modern lines. Many an old firm was displaced by a limited liability company with a bureaucracy of salaried managers. The change met the technical requirements of the new age by engaging a large professional element and prevented the decline in efficiency that so commonly spoiled the fortunes of family firms in the second and third generation after the energetic founders. It was moreover a step away from individual initiative, towards collectivism and municipal and state-owned business. The railway companies, though still private business managed for the benefit of shareholders, were very unlike old family business. At the same time the great municipalities went into business to supply lighting, trams and other services to the taxpayers.
The grown of the limited liability company and municipal business had important consequences. Such large, impersonal manipulation of capital and industry greatly increased the numbers and importance of shareholders as a class, an element in national life representing irresponsible wealth detached from the land and the duties of the landowners; and almost equally detached from the responsible management of business. All through the nineteenth century, America, Africa, India, Australia and parts of Europe were being developed by British capital, and British shareholders were thus enriched by the worlds movement towards industrialization. Towns like Bournemouth and Eastbourne sprang up to house large comfortable classes who had retired on their incomes, and who had no relation to the rest of the community except that of drawing dividends and occasionally attending a shareholders meeting to dectate their orders to the management. On the other hand shareholding meant leisure and freedom which was used by many of the later Victorians for the highest purpose of a great civilization.
The shareholders as such had no knowledge of the lives, thoughts or needs of the workmen employed by the company in which he held shares, and the paid manager acting for the company was in more direct relation with the men and their demands, but even he had seldom that familiar personal knowledge of the more patriarchal system of the old family business now passing away. Indeed the mere size of operations and the numbers of workmen involved rendered such personal relations impossible. Fortunately, however, the increasing power and organization of the trade unions, at least in all skilled trades, enabled the workmen to meet on equal terms the managers of the companies who employed them.
rival n.1.竞争对手 2.可与匹敌的人a.竞争的,对抗的 vt.与竞争
rivalry n.竞争,竞赛,对抗
contend vi.1.争夺 2.搏斗 vt.声称,主张
displace vt.1.取代,替代 2.迫使离开家园
liability n.1.责任 2.负债,债务 3.不利条件
handicap n.缺陷vt.妨碍,使不利
hinder vt.阻碍,妨碍
bureaucracy n.1.官僚主义 2.政府机构,官僚
engagement n.1.订婚,婚约 2.约会
energetic a.精力充沛的,充满活力的
brisk a.1.轻快的,生气勃勃的 2.兴隆的,繁忙活跃的
robust a.强壮的,健康的
limp a.软弱的,无生气的,无精神的
initiative n.1.主动性 2.主动的行动,倡议 3.主动权
initiate v.1.开始,创造,发起 2.使初步了解 3.接纳新成员 n.新加入组织的人
municipal a.市的,市政的
municipality n.自治市;市政当局
shareholder n.股票持有人,股东
shareholding a.股权
tram n.有轨电车
locomotive n.机车
consequence n.1.结果,后果 2.重要,重大
consequent a.作为结果的,随之发生的
manipulate vt.1.操纵,控制,影响 2.熟练操作,使用
manipulation n.1.操作,使用 2.操纵,控制
detach vt.拆卸,使分开,使分离
dividend n.1.红利,股息 2.回报,效益 3.被除数
patriarchal a.1.家长的,父权制的 2.古老的
中国将扩大人民币“日交易波幅”
全会通过的各种文件有什么区别
探索实行“官邸制”
治理“公车腐败”
全会:市场在“资源配置”中起决定性作用
老外在中国参加“午夜弥撒”
“国家级新区”改革促进政府“职能转变”
“地方政府债务”逾10万亿
中国首辆“月球车”进入太空
新土改鼓励“规模化耕作”
“单独二胎”促“母婴产品”行业股价上涨
破除“GDP崇拜”
全会提出要划定“生态保护红线”
《反浪费条例》取消“一般公务用车”
央行警示“P2P借贷”风险
骆家辉“辞职”
产能转移 capacity relocation
十八届三中全会公报要点双语对照
自上而下的“壮士断腕式的”改革
自贸区内将可开设“离岸账户”
全面深化“农村改革”
泰国总理赢得“不信任投票”
“先天性畸形”男婴火化前“复活”
国企改革:“产权多元化”
“珠算”被列为世界非物质文化遗产
中国“海归”增多
“成品油”英语怎么说?
腾讯被诉“滥用市场支配地位”
政府将建不动产“信息共享平台”
“比特币”大热
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