... drives the returns to the variable factors, labor and capital, down. The secular fall in the real wage is smaller than the fall in the marginal product, so the wage share rises and profits fall, a ... reduces the growth rate of capitalaccumulation and, consequently, the growth of labor demand. As what wouldlater be known as the marginal product of the composite labor and capital inputfalls, ... mental exertion. If the negroes of Jamaica and Demerara, aftertheir emancipation, had contented themselves, as it was predicted they would do,with the necessaries of life, and abandoned all labour...