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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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VIII. Acceptance and general application of the theory of productive efficiency

Collection:: Economics Books

THEORY OF PRODUCTIVE EFFICIENCY 171 the improved agencies of production, it is rightly entitled to share in the increased wealth created. While it is undoubtedly true that the most brilliantly conceived mechanical aid to pro- duction is worthless without human direction, it is still open to question whether this makes a case for labor’s demand. That fatigue induced by the monotony of work has been in- creased by the further mechanization of industry, which has been an important feature of improved processes, is un- doubtedly possible. On the other hand, physical exertion in many cases has been lightened through the greater applica- tion of power, and the determination of relative nervous strain under former conditions, as compared with the present, is a question requiring further investigation by the physiolo- gist or psychologist before final judgment is possible. In any case it is clear that the increase in output per worker in re- cent years is due altogether to the greater use of machinery and power and to better management, that is, to the use of more capital and managerial intelligence, and not to any greater effort or more efficient application on the part of labor itself. Production efficiencies have for the most part been evolved through careful research and ‘experimentation on the part of highly skilled engineering staffs, and this work has been financed by the employer without any assurance that it would bring him a return. It seems reasonable, therefore, that when this investment has turned out profitably the credit and the profits which result should accrue to the employer and to the investors who supplied the capital for the experiment, and who would not have been likely to undertake it except for the prospect of profit. HENRY H. WILLIAMS, MANUFACTURER, PHILADELPHIA! I think that there would be very little dissent to the idea that the enormously increased production made possible by power and machines should be distributed broadly and widely throughout our population. The rising tide of education and enlightenment will bring disaster if any serious attempt is 1 Industrial Management, June, 1927, pp. 324-326. Letter and article by Henry H. Williams. “High Wages and gp. Sotodl

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