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

ACCEPTANCE OF NEW THEORY 141 1922, and were extensively discussed in the press and on the floors of legislative bodies. The living-wage question was rapidly becoming an issue of national importance when the discussion at length began to lose its intensity, due to the revival of industry and business in 1923, and the adoption of a new industrial plan of procedure which stimulated the unprecedented development of industry during the next five years, and which accepted productivity and high rates of pay as fundamentals of prosperity. [n the case of the United States Railroad Labor Board, where the supreme effort was made to force the practical acceptance of the living-wage principle, no direct action was secured even after the late Senator Albert Cummins, Chairman of the Senate Committee on Interstate Com- merce, had declared that the railroad employees were cor- rect in interpreting the term “just and reasonable” wage, as defined in the Transportation Act of 1920, as meaning a “living wage.” Elaborate majority and minority opinions were handed down by the Board. Altho the majority refused the immediate acceptance of the living-wage prin- ciple, this action was conditional, and was made upon the public declaration that further consideration would be given the matter when economic conditions improved. As early as July, 1920, in its first wage award (Decision No. 2), the employees claimed that the Railroad Labor Board had led them to believe that it had accepted the living-wage principle. At that time the Board said: The Board has endeavored to fix such wages as will pro- vide a decent living and secure for the children of the wage earners opportunity for education, and yet to remember that no class of Americans should receive preferred treatment and that the great mass of the people must ultimately pay a great part of the increased cost of operation entailed by the increase in wages determined herein.

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