Finanzwissenschaft

The new industrial revolution and wages

Bibliographic data

Monograph

Identifikator:: 1017727422

URN:: urn:nbn:de:zbw-retromon-56103

Document type:: Monograph

Author:: Földes, Béla http://d-nb.info/gnd/119338211

Title:: Finanzwissenschaft

Place of publication:: Jena

Publisher:: Verlag von Gustav Fischer

Year of publication:: 1920

Scope:: 1 Online-Ressource (XIV, 686 Seiten)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

120 INDUSTRIAL REVOLUTION AND WAGES obsolete. He will never willingly go back to it. To this fact we may well reconcile ourselves, and adjust our economic life to it. . . . [ am convinced that this wider conception of what consti- tutes a truly living wage is entertained not alone by the work- man himself, but the American people as a whole have willingly conceded it to him. . . . There is no turning back the clock of time or events. . .. This much is certain, that from now on our people in general will have to shape their way of life, their own ability to earn and to pay, so that henceforward a proper share of the simple good things that all of us have always enjoyed shall fall to the lot of the man who toils. One form in which this award must fall to him is in the form of a wage—call it what you will—in view of the loose meaning that has come to be attached to the old living wage. I prefer to call the new wage the buying and saving wage. . . . In other words, they look to the pay envelop for their income. These constitute the great buying public in our country. They are purchasers of goods “made in the United States.” It is for these that we should seek to provide not merely the living wage but the saving wage, for, if the American workman enjoys anything as much as spending, it is saving. To reward him a saving wage is no more than a just credit to the trait which has made him the greatest pro- ducer, the greatest buyer, the greatest market known to the world. Let there be no doubt as to the American workman’s ability and propensity to save. . . This is one more reason why I feel sure that the saving wage must now for good and all take the place of the old meaningless living wage. As a definition the saving wage is, I am aware, a very indefinite term. . . . The saver goes about his business with- out creating news. But I am convinced that he constitutes very largely the majority of our people. And that average saver, and a society awakened to his new and legitimate

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