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

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

Collection:: Economics Books

140 INDUSTRIAL REVOLUTION AND WAGES industrial peace and cooperation, and would result in enormous gains in the productive efficiency of both capital and labor. From the experience along the lines of similar innovations in the past, the conclusion could be accepted, it was claimed, that if the living- wage principle should be applied with the accustomed sagacity and common sense of industrial leaders, no serious financial or other evil would result, but rather great industrial advantages. It was emphasized that no sudden application of the principle was planned, which might cause an industrial collapse, but only a gradual, sensible adoption of the idea, attended with the minimum possibilities in the way of dislocation of production and distribution. Finally, it was pointed out that the living wage was not merely a matter of economics. It involved a fundamental moral principle. The boon to humanity resulting from its application, and the improvement to our social, political and religious life, could not, it was declared, be overestimated. Without the living wage our industrial achievements, on the other hand, it was claimed, were entirely materialistic and were built upon an indefensible foundation—upon the social and economic degradation of a large part of our citizenship. To say that the living wage was impos- sible or impracticable, therefore, it was concluded, was to offend America’s fundamental sense of humanity, morality, and religion. A, FormAL PrRECEDENTS ESTABLISHED These arguments for and against the living-wage prin- ciple were, as has already been described, exhaustively advanced and defended in connection with controversies between capital and labor during the four years, 1919-

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