... employed 250,000. In 1 930 , as thisproduct improvement and cost reduction continued, em-ployment in the industry was 38 0,000. In 1940 it hadrisen to 450,000. By 1940, 35 ,000 people were employedin ... balance throw men out ofwork. It is sometimes argued, for example, that machines 38 ECONOMICS IN ONE LESSON terest or profit is definitely expected. This is a sign thatthe persons to whom ... private individuals44 ECONOMICS IN ONE LESSON chines and grain elevators upon the wharves and docks,the employment of steam power, etc. . . .In 18 73 Bessemer steel in England, where its...