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 VII. Acceptance of the theory of an adequate basic wage

Collection:: Economics Books

148 INDUSTRIAL REVOLUTION AND WAGES We quite agree with counsel for the men that there exists no reason for applying here the standards of either the “Poverty Level” or the “Minimum of Subsistence Level”; , « . we think the standard to be aimed at here is, at least, the “Minimum of Health and Comfort Level” and by pref- erence, what he describes as the “Level of the American Standard of Living.” In another Massachusetts street railway arbitration in 1921, the question of supply and demand came before the Board, and the Chairman, Mr. Thomas H. Mahoney, decided that the law of supply and demand could not be utilized to depress wages below a living wage. He said :* However that may be, it seems to us that the doctrine of the living wage, so called, has become firmly established in America. In other words, the swing of wages downwards in accordance with the law of supply and demand is arrested arbitrarily at a point which constitutes what is called a living wage. In 1924, another street railway arbitration board in Worcester, Massachusetts, made the following declaration in its award :2 The Board believes that it is impossible to fix a wage rate by mathematical statistics. Bare cost-of-living statistics are important, yet American progress and stability demand that we consider also American standards of living. Increased efficiency and production, universal and advanced education, new inventions, the war, a disposition to treat labor with more liberality and, maybe, a little socialism have all com- bined to create an American standard of living above the 1 Award in case of Massachusetts Northeastern Street Railway, 1921; quoted from Brief in Behalf of Employees, Arbitration between the United Electric Railways Company and Providence Division Number, 618 of the Amalgamated Association of Street and Electric Railway Employees of America; May, 1925; p. 30. 2 Award in Arbitration, between Worcester Consolidated Street Railway Company, et al., and Amalgamated Association of Street and Electric Railway Employees of America and Local Divisions No. 22 and 448 thereof, Avril 25, 1924, Springfield, Massachusetts; page 17.

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