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

Collection:: Economics Books

THEORY OF PRODUCTIVE EFFICIENCY 17% is directly related to the productivity of that people. The difficulty is encountered when it is attempted to apportion returns on the basis of individual productivity. However, progress that has been made in some cases in the development of the science of industrial management shows it is possible to look forward along this line with some hope of results that will afford justice to the workers and to society at the same time. “LaBor’s MopERN WAGE Poricy” In 1927 President William Green, of the Federation of Labor, issued an analysis and an elaboration of the declara- tion of the Atlantic City Convention of 1925 relative to wages and productivity. This interpretative statement de- veloped the “modern wage policy” of the Federation and held forth the “social wage” as the goal toward which the organized labor was striving. The new conception as thus put forward laid fundamental emphasis upon the necessity of labor receiving its proper share in the output of industry and inaugurated a movement to enable the various unions to realize this object. It is fraught with such significance relative to the future determination of wages that it is re- produced in full below : One of the chief tasks of organized labor has always been ‘0 secure higher wages for workers. The struggle for higher wages now enters its third phase. In the earliest period organized labor struggled for higher money wages. Instead of $10 per week it tried to secure $11 per week, and the next year perhaps $12. A second period in the wage policy began as organized labor realized that the amount of money is no adequate measure for deciding whether a wage is high or low, and that it is necessary to relate money wages to prices. Then organ- ized labor struggled for higher real wages—that is, wages that would buy more.

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