248 INDUSTRIAL REVOLUTION AND WAGES 
methods of cooperation and team play, we can never hope 
to secure the full benefits to which this productive policy 
entitles us.” 
UNEMPLOYMENT INSURANCE IMMEDIATELY NECESSARY 
Altho the theory of increased production, higher wages 
and purchasing power, and greater consumption is basically 
sound, and is generally accepted, it is also equally true and 
fundamental that this procedure will inevitably be at- 
tended with recurrent overexpansion, maladjustments, 
losses, and unemployment, unless a comprehensive plan 
of industrial cooperation and coordination is developed. 
Other factors are also involved in this constructive pro- 
cedure, and its discussion may at this point be deferred 
with the obvious comment that any general scheme of 
industrial coordination and stabilization must necessarily 
be slow in developing in an effective way, and pending 
this time, or, in other words, during the period of trial, 
experience, and evolution of such a program, immediate 
measures must be taken to protect wage-earners against 
the evils of unemployment. Otherwise, they innocently 
become the residual sufferers of and sacrifices to industrial 
progress. 
Aside, therefore, from the palliative measures of public 
policy which have already been mentioned, the only prac- 
tical, concrete method of dealing with unemployment, 
pending a greater degree of industrial stabilization, is the 
acceptance and application of satisfactory systems of un- 
employment insurance. Long experience abroad has dem- 
onstrated the soundness of such a procedure, and it should 
be generally adopted in American industries. Not only 
would human sufferings from unemployment be thus miti- 
gated, but the business losses from temporary industrial 
dislocations, as well as the likelihood of their recurrence,