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

Structure type:: Chapter

Title:: Chapter I. Introduction

Collection:: Economics Books

INTRODUCTION in the increased productive efficiency of industry. This remains to be done. A basis has, however, already been laid down for such a constructive program by recent agreements between organized labor and industrial man- agement. Industry itself has been firmly committed to the new wage theories. They are now passing from a status of theoretical acceptance to one of practical application. Both theoretically and practically they are supported by enlightened public opinion. Aside from wages, the new industrial revolution has also developed fundamental problems of its own. The unprecedented machine which has been created must be coordinated in its workings. Not only must production and consumption be properly adjusted in individual indus- tries, but industry as a whole must be coordinated, either through its own action or by public agencies, so that it may be stabilized, and recurrent periods of retardation and unemployment prevented. This is a vital problem and must be dealt with in a constructive way as soon as possible. SANCTIONS, SOURCES AND PROBLEMS This, in brief outline, is the background from which the present work has proceeded. In carrying it forward, reli- ance had to be placed mainly upon periodical literature and other purveyors of current history. The extraordinary industrial revolution through which we have been passing has been so recent that statistical data, precedents, and enlightening comment have been mostly restricted to these sources. Only four general studies have recently been published in book form, all of which are very valuable contributions to the subject.! Current governmental pub- 1 “Industry Comes of Age,” by Prof. R. G. Tugwell (Harcourt, Brace & Co., New York, 1927); “American Presperity,” by Paul M. Mazur (The Viking Press, New York, 1928); ‘““The American Way to Prosperity,” by Gifford K. Simonds and John G. Thompson (A. W. Shaw & Co., Chicago and New York, 1928); and “The American Omen,” by Garet Garrett (E. P. Dutton & Co., New York, 1928).

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