The new industrial revolution and wages

Bibliographic data

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

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

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter I. Introduction

Collection:: Economics Books

INTRODUCTION system created, and the modern industrial era inaugurated. Special students and official commissions from the leading industrial and commercial nations of the world have come to America to study our amazing changes and achieve- ments. European nations have been urged to adopt the American constructive policies and methods. Russia, in its desperate struggle to rehabilitate its industries, has openly accepted and based its hope for the future upon the new American plan of industrial performance. This new industrial era, or the general underlying con- structive program, was inaugurated by a group of indus- trialists and public officials, of which one of the chief spokesmen was the Secretary of Commerce, Herbert Hoover. In the early part of 1923, Secretary Hoover took issue with those who since 1920 had adopted the fallacious slogan of “a return to normalcy” in the sense of a deflation of wages and prices to a pre-war level. He contended that “the road to plenty” did not lie in that direction. “We must get our minds away,” he said, “from the notion that pre-war standards of living and volume of business would be normal now. Normalcy is a vastly higher and more comfortable standard than 1913.” He then went on to say that industry during the past decade had shown an unparalleled growth in productive efficiency. Volume had been increased ; labor had been more productive; higher rates of pay had been made possible, and this, in turn, had enabled industrial workers to purchase more of the neces- Lt A German Trade Union Delegation visited the United States in 1925. Its report was issued in 1926 under the title ‘“Amerikareise deutscher Gewerk- schaftfuhrer.” Official British and Australian Industrial Commissions came in 1926 and 1927. Their reports are printed in the Labor Review, U. S. Bureau of Labor Statistics, June 1927, pp. 45-47, and May 1928, pp. 50-51. See also report of International Economic Conference, Geneva, May 4, 1927 (C. E. 1. 13, [nternational Labor Office, Geneva); also “America the Golden,” by Ramsay Muir (Williams & Northgate, Ltd., London, 1927); “America’s Secret: The Causes of Her Economic Success” (John Murray, London, 1927); J. A. Spender, Editor Westminster Gazette, article in Washington Star, June 3, 1928, entitled “Every Man Has a Chance in America’s System;” ‘The Secret of High Wages,” by Bertram Austin and W. Francis Lloyd (Dodd, Mead & Company, 1926).

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