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 173 FRANK TRACY CARLTON, PROFESSOR OF ECONOMICS IN DE PAUW UNIVERSITY!"® Preceding the nineteenth century and the use of natural power and machinery, leisure and comfort were considered to be the birthright of only a few. Hard and almost continu- ous toil on the part of the multitude was necessary to eke out an existence. With the enormous increase in the pro- ductive capacity of the world has come the possibility of a shorter working day and of a rising standard of living for the mass of toilers. Modern unionism has for its direct aim the betterment of working conditions; and such betterment has been made possible through the technical advances con- summated during recent generations. The maximum amount which an employer can afford to pay an employee is the equivalent of the increased produc- tivity of the plant because of the employee’s efforts. But the productivity of the employee depends not merely upon his skill and efficiency but also upon the manner in which his labor is directed and correlated with that of others. The existing industrial order must prove its right to con- tinued life by efficiency in the production of the necessities and comforts of life for the great drab mass of working hu- man beings instead of the mere piling up of profits. J. NOBLE STOCKETT, JR., ECONOMIST, UNIVERSITY OF CHICAGO? : By increased productive efficiency is meant solely participa- lion in revenue gains according to specific contribution to in- creased output. In conclusion, then, a permanent wage advance may be based upon the principle of increased productive efficiency, not because of the existence of a definite measurable relation between labor and the increased output arising from the introduction of more efficient machinery, but because it is socially expedient to better the conditions of labor, when such betterment may be effected with the least friction between "1 From “History and Problems of Organized Labor,” D. C. Heath & Co., (920, pp. 4, 5, 11. 2 “The Arbitra] Determination of Railway Wages.” 1918: pp. 136-57.

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