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 101 expect to bring the millennium within a day. But we do sincerely feel that our position is a step in the right direction, an effort at laying the foundation for the establishment of cooperation that ultimately will bring economic justice and fair play, not alone to the workers but to humanity itself. This agreement constitutes one of the most significant precedents in the modern labor movement. It frankly recognizes the productive efficiency theory of wage deter- mination and makes it the basis of economical accomplish- ment through the joint efforts of management and of organized labor. In addition to accepting the principle it also provides practical methods for the distribution of revenue gains. Experience under its provisions will un- doubtedly have a profound effect upon wage relations in the organized labor movement, Practical ErFFecTs iN Basic INDUSTRIES The complete acceptance of the productive efficiency theory during the past five years by the business and indus- irial world has been attended by undreamed-of results. There has been a remarkable expansion in industrial out- put, which has been accomplished by fewer wage-earners and by a lowering of labor and other costs of production, Output per employee and per man hour, as well as rates of pay, have greatly increased. Alongside of this unusual performance there has also been a steady advance in the general margin of profit. These unprecedented results were forcibly summarized by the United States Depart- ment of Commerce in 1926 as follows : One of the most important facts in regard to American industry is its ever increasing efficiency. During the first quarter of the present century the number of wage-earners in our factories increased about 88 per cent, while their _ L“Commerce Yearbook, 1926,” Vol. T.—United States: United States De. partment of Commerce: pp. XIV-XV

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