A “Wild and Dangerous” Scheme, Part Two: What’s “fixed” got to do with it? Do with it?
“…we have seen a calculation… which shows that the fixed charges, for machinery and the general management of a mill, are as nearly as possible equal to the cost of wages in the process.” In my earlier post on the “Wild and Dangerous Scheme” I teased the “egregious accounting error” committed by the author of […]