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 VIII. Acceptance and general application of the theory of productive efficiency

Collection:: Economics Books

CHAPTER VIII ACCEPTANCE AND GENERAL APPLICATION OF THE THEORY OF PRODUCTIVE EFFICIENCY In outlining trends in the development of various wage theories, reference has already been made to the action of railroad firemen and engineers in their Eastern and West- ern arbitrations during the period 1913-1915, and to that of all classes of railway employees in the acute contro- versies before the former United States Railroad Labor Board during the years 1920-1922. On these two occa- sions, the union representatives developed and put forward the theory of “increased productive efficiency” as the justi- fication for wage advances. Stated in its simplest form, the claim was made that the labor and responsibilities of employees had become greater, their output in terms of traffic units handled had increased, labor costs according to the same standard had decreased, and as a consequence, the assertion was made that they were entitled to a large degree of participation in the resultant net revenue gains of the transportation industry. It was freely conceded that these gains had in large meas- ure been made possible by increased capital investment, by new processes and inventions, and by managerial ability. After capital and management, however, had been prop- erly rewarded, it was contended that labor should have a share in the revenue gains through higher wages and con- sumers and shippers a participation also in the form of lower freight and passenger rates. In other words, as the result of the increased productive efficiency developed by "1 See pp. 32-40, 69-70. 16m

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