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

ACCEPTANCE OF NEW THEORY 153 as politically free, and to meet this fundamental need declares that wage-earners should be paid sufficient not only to enable them to satisfy their physical, social, and cultural requirements but also to make it possible for ‘hem to become owners of the industrial undertakings in which they are employed. This lofty but democratic conception, which is some- what restrictedly expressed by the term “the cultural wage” or standard of living, may, of course, seem to be more or less in the realm of idealism at the present time. It is a striking fact, however, that, in a greater or less degree, it is now the settled policy of some of our basic industries to attempt to realize it by plans for extending participa- tion in earnings and the selling of stock to employees of all classes. In a few cases the ideal has already been realized by employees acquiring control of large under- takings, such as the Philadelphia Rapid Transit Company ander Mitten Management in Philadelphia, the A. Nash Tailoring Company of Cincinnati, the Bank of Italy in California, the Columbia Conserve Company of Indian- apolis, the Dennison Manufacturing Company of Massa- chusetts, the Dutchess Bleacheries of New York. and ytherg 1 Eliminating from consideration, however, the elements of industrial democracy, and restricting the matter to the evolution of standards for measuring an adequate basic wage, it is clear that the “living-wage” movement since the war has practically advanced to a point where the standard of health and comfort, plus reasonable savings, has been sanctioned by enlightened public opinion as the irreducible minimum of compensation and living for the unskilled industrial workers. This minimum has not only "1 “Political and Industrial Democracy,” by W. Jett Lauck: Funk & Wag- nalls Company, New York. 1927: pp. 270-272.

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