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

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IX. Increased consumption and prospertity accepted as an outgrowth of lower costs and higher wages

Collection:: Economics Books

LOWER COSTS AND HIGHER WAGES 213 order to maintain and increase the prosperity of the ~ountry.? The continuance of good times for the employed and of general business prosperity [he stated] depends largely upon maintaining throughout this land the highest possible wage rate that can be paid to those who labor for a livelihood. It matters not what the occupation may be, the common laborer, the mechanic, the bank clerk, the professional subordinate of all classes should be more seriously considered by those who are their employers. We should rise above paying only such wages as the sup- ply and demand requires us to do; we should pay a living wage to all, and then with well-paid assistance hustle to con- tinue in business. The wage-earners constitute the great majority of our pop- ulation. These people are the spenders of the nation, and upon their ability to spend freely the general business of our country depends. Manufactured products of all kinds must be furnished them as well as the necessary staples of life. It is the wage of these people that makes good times or bad, dependent on what they are earning over and above the actual necessities of life. The farmer and the tradesman look to them as a market for their products, and if the wage-earner is short of funds all trade suffers and general business suffers severely. The standard of life among the masses has not advanced greatly since the World War, and it must not move backward. One of our leading merchants and publicists, Edward A. Filene, of Boston, has taken, so far as the international aspect of the matter is concerned, an attitude opposed to Mr. Untermyer. While recognizing the policy of mass Production and high wages as the foundation of American prosperity, he contends also that its stability is in large measure dependent upon increasing the buying power of . 1 “Speeding Up For Prosperity,” by Samuel M. Vauclain, President, Bald- win Locomative Works, Philadelphia; Nation's Business. Nay. 1928.

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