s. A successful
manager of a great enterprise can scarcely be said to have a market price
for his services, but will estimate himself in large measure by the
profits he might secure as an independent business man. Within limits,
such salaries will vary with the experience and inventive ability
required.

_Supply and demand in wages._--Wages in general are subject as truly to the
law of supply and demand as are the products of labor. If few places are
vacant and many applicants seek those places, it is impossible to prevent
the reduction of wages through the anxiety of some applicants to secure
places. On the other hand, if few applicants seek the places open to many,
each will find the employer most willing to give an increase of wages for
his work. Laws cannot prevent such natural competition, though they may
hinder it. Even organization under secret bonds can only temporarily
restrain. Human nature is stronger than any arbitrary restriction.

In general, then, wages in any particular occupation may be affected
directly by limited competition. Any necessity for peculiar abilities of
body or mind, or for preparation by education or training, makes certain,
as far as it goes, a limited competition, and therefore the opportunity
for higher than ordinary wages. In the same way, if unavoidable hardships
or dangers are involved, comparatively few workers will seek such
employment and can have larger pay. If, however, the dangers carry with
them a stimulating excitement and exhibition of daring, arousing
admiration for the worker, this may offset entirely the effect of the
danger.

Soldiers and railroad employes for such reasons do not command pay in
proportion to the dangers met. Any employment where there are obstacles to
natural advancement or where continuance is uncertain does not attract
applicants except by higher wages. Illustrations of all these occasions
for limited competition are found everywhere.

_Stimulants to competition._--If any occupation shows circumstances making
entrance easy for new applicants, or if advantages for promotion are
readily seen, or if it seems to have a special respectability with the
advantage of social privileges, especially if it in some respects seems a
work of philanthropy, there will be multitudes ready to engage, and
willing to undertake the work at less than average compensation. It is
commonly said that these peculiar advantages are a part of the
compensation. They operate sim