The new industrial revolution and wages

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Monograph

Identifikator:: 1804651486

URN:: urn:nbn:de:zbw-retromon-193069

Document type:: Monograph

Author:: Lauck, William Jett http://d-nb.info/gnd/173237126

Title:: The new industrial revolution and wages

Place of publication:: New York

Publisher:: Funk & Wagnalls

Year of publication:: 1929

Scope:: ix, 308 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VII. Acceptance of the theory of an adequate basic wage

Collection:: Economics Books

126 INDUSTRIAL REVOLUTION AND WAGES At the time the Board was created, differentials as between the different crafts and occupations had already been estab- lished by past experience, precedents, and labor adjustments. The Board, therefore, has had no difficulties to meet in the way of differentials. It has practically recognized differ- entials which existed prior to its organization. In rendering its decisions as to wages, the Board has based its action on the relation existing between different classes of employees and has maintained the preexisting differentials by adding to or subtracting from each group of workers an equal or prac- tically an equal number of cents per hour or day, according as the award called for an increase or decrease in compen- sation. The decisions of the Board have, therefore, been based primarily on the increase or decrease in the cost of living without regard to the adequacies of the basic wage in the industry paid to unskilled labor, and, as a consequence, with- out regard to the adequateness of the rates of pay of all other classes of workers of whatever skill or responsibility, for the reason that the wages of the higher skilled workers are necessarily related to the rate established for those at the bottom of the scale. The history of the Board, therefore, shows that it took the wage scale as it found it, and has raised it or lowered it in accordance with the rise or fall in retail prices of those articles which enter into the consump- tion of the railroad workers or their families. So far as we know there has been no consideration given as to the ade- quateness of railroad wages beyond the possible assumption contained in the decisions of the Board that—in view of the fact that the Board has not discussed the matter—it has accepted standards of compensation as it found them, deem- ing them to be just, reasonable and adequate. . . . THE WAGE DECISION OF 1921 We had hoped that in 1920, when the work of the Board began, and when there were unprecedented business and trade activities and unprecedented railway traffic and income,

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