Die wirtschaftliche Zukunft des Ostens

The stock market crash - and after

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Monograph

Identifikator:: 1016274645

URN:: urn:nbn:de:zbw-retromon-162307

Document type:: Monograph

Title:: Die wirtschaftliche Zukunft des Ostens

Place of publication:: Leipzig

Publisher:: Koehler

Year of publication:: 1920

Scope:: VIII, 309 S

Digitisation:: 2021

Collection:: Economics Books

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Labor’s Codperative Policy 151 duction per worker increases with the advance in the arts. Index Number Instruments of New Policy [ndex numbers must be the tools of this new policy, as enunciated by union labor. They constitute labor’s scorecard. It was by index numbers that Professor E. E. Day and Woodlief Thomas, of the Federal Reserve Board's statistical division, found that from 1889 to 1925 the volume of physical production of manu- factured goods in this country increased by 178 per cent, while the relative number of wage earners increased by only 87 per cent, and productivity per worker rose about 49 per cent. The increase in productivity has gained in speed so that the average rate of increase from 1921 to 1925 was about 7 per cent a year, as compared with but one-fourth of 1 per cent increase for the preceding twenty years. By index numbers, again, the National Bureau of Eco- nomic Research finds an increase in real income of 27 per cent since 1919; and, as the real income of the farming class has decreased, the industrial popu- lation has gained even more. Largely through the incentives produced by watch- ing these index numbers, as the scorecards of produc- tivity, I have no doubt that the welfare of labor is well on the way to be doubled. The substitution of fact-finding for fault-finding, of common council for conflict, coupled with better organization, more hu- mane and enlightened management and greatly

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