Monday, 8 November 2010

Engels, Housing and Negative Equity

'Here we see clearly that what  at an earlier historical period was the basis of relative wellbeing for the workers, namely, the combination of agriculture and industry, the ownership of house, garden and field, and certainty of a dwelling place, is becoming today, under the rule of large-scale industry, not only the worst hindrance to the worker, but the greatest misfortune for the whole working-class, the basis for an unexampled depression of wages below their normal level, and not only for seperate districts and branches but for the whole country'

                      -Frederick Engels, 'The Housing Question' c.1872

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