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

190 INDUSTRIAL REVOLUTION AND WAGES properties. On some of them we have unions. On others there may be no unions. These newly acquired properties, if we have organizations on them, will be brought at once under the cooperative plan. If they are unorganized we will organize them and bring them under the cooperative plan. The first thing we will do in bringing these properties under the cooperative agreement will be to establish a wage sufficient for the necessaries of life, comfort and saving. Then we will establish the profit-sharing on the 50-50 basis. The agreement entered into provides for arbitration in case of disputes over any of the questions which can not be mutu- ally agreed upon. In that respect this agreement is based upon the laws of the Amalgamated Association and carries the same arbitration provisions as all of our contracts with the various companies with which we now deal. In working out this agreement for cooperation we have carefully surveyed the industrial situation that now prevails. Both sides fully appreciate that there is something radically wrong with our present basis of dealing, and fully believe, if our modern civilization is to continue and advance, our economic life must advance equally with civilization, or down will go civilization to destruction. Capital, with its autoc- racy, must be curbed. Labor, with its curbed and chained power, must be freed; and our belief is that the way to bring about the proper labor and economic condition is to harness, through cooperative organization, labor and capital into a united team of industrial democracy, and through coopera- tion, each having its own organization, standing squarely upon its rights, with the provisions of arbitration, make them work even, each pulling its share of the burden and receiving its full share of the products produced, keeping in mind the public and their respective relations to the same in such a manner as to always keep in sight the fact that true success depends upon equal justice and the rights of all classes concerned. We appreciate that this is a big undertaking. Itis a radical change. It will have its critics and opponents. We do not

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