... jobs. The real result of the machine is to increase ¶roàucûon, to raise the standard of living, to increase economic welfare. THE CURSE OF MACHINERY 43 the end of the nineteenth century the stocking ... saved in direct wages to for-mer coat makers, he now has to pay out in indirect wages to the makers of the new machine, or to the workers in an-5¤ ECONOMICS IN ONE LESSON other capital industry, ... that there were in England 5 ,20 0 spinners using spinning wheels, and 2, 700weavers in all, 7,900 persons engaged in the productionof cotton textiles. The introduction of Arkwright's inven-tion...