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

158 INDUSTRIAL REVOLUTION AND WAGES Finally, it is apparent that the living or savings-wage principle has been fully recognized as a problem of social and industrial statesmanship, the solution of which must not be deferred longer than necessary. The unskilled or semi-skilled workers, to the compensation of which the principle must be applied, as already stated, have tradi- tionally been difficult, if not impossible, to organize effect- ively, and consequently have not had the economic strength to urge their claim for consideration. The members of the highly skilled craft organizations have also been so ab- sorbed with their own interests that they have been indif- ferent to the needs of their less fortunate brothers. Only in the case of industrial unions, such as the United Mine Workers and the Amalgamated Clothing Workers, or in closely federated organizations, as the Building Trades, have unskilled workmen been raised to a living-wage level. Also, there have been a few instances where the employer, believing fundamentally in the economy of high wages, as in the case of the Ford Motor Company, has voluntarily placed the compensation of the unskilled on an adequate basis. In general terms, therefore, it may be said that altho the living or savings-wage standard is economically sound, the mainspring of the movement has been from those primarily interested in its social, political and humani- tarian aspects. Within the past few years, however, the fundamental conceptions of industrial progress have strikingly changed. With the increased mechanization of industry it has been accepted that low wages do not make for low labor costs. Furthermore, it has been widely realized that in their pur- chasing power the lowest grades of industrial workers have relatively suffered a great disadvantage. Moreover, while proceeding during recent years upon the theory that there may be indeterminate increases in wages so long as costs

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