The stock market crash - and after

Bibliographic data

Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter X. Labor's Coöperative Policy

Collection:: Economics Books

172 The Stock Market Crash—And After Summary To sum up: during the past half-dozen years we have come definitely into an age of greater codpera- tion between Capital and Labor, with the rapid growth of plans whereby Labor shares in manage- ment, increased efficiency and enhanced health through increased wages and participation in group insurance. It is generally recognized by employers that a very slight decrease in the death rate will save scores of thousands of valuable lives. Under sev- eral plans medical examinations and health super- vision are furnished to the workers at costs that are shared equally between employers and employees. This bettered relation between Capital and Labor has promoted productivity and so helped the long bull market reach its new plateau. Employers have modified their attitude and preju- dices quite as much as have the workers. The more progressive employers, like Henry S. Dennison, have built up their businesses by means of the codperative efforts of their employees. This spirit of liberalism is spreading among industrial managers who have heretofore stood for autocracy rather than democ- racy in industrial management, Eugene G. Grace, President of the Bethlehem Steel Company, in his 1928 letter on “Prosperity and High Wages” recognizes the importance of this codperative principle in creating prosperity through maintaining the buying power of workers. Mr. Grace says: “In the last ten vears a new order has

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