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 II. Pre-war principles and methods

Collection:: Economics Books

10 INDUSTRIAL REVOLUTION AND WAGES arbitration, no fundamental principles were evolved or generally accepted prior to the World War. In arbitra- tion proceedings, stress was placed by labor upon the arduousness of their work, or, in other words, upon the actual physical sacrifices they were forced to make, and the physical conditions under which their occupations required them to toil. The groups above the unskilled and semi-skilled workers generally demanded differentials over basic rates of pay according to the skill, hazard, and respon- sibilities of their duties. These factors were, as a rule, recognized and given consideration. The potent influence in transmitting them into concrete terms of compensation, however, was usually dependent upon the relative degree of organization present and of the economic results which could be expected from either party to the case, if there was a failure to grant satisfactory rates of pay. Guiding principles were given scant, if any, consideration. Arbi- tration awards were almost without exception an irrational compromise of the conflicting claims of the parties to a controversy, popularly described as “splitting the dif- ferences.” Cost oF Living as A Factor 18 WacGe-FIxing After the year 1900, when prices began generally to rise, “cost of living” developed as an active factor in wage- fixation. Compilations of changes in prices of articles entering into the consumption of the wage-earning classes were made, and emphasis was placed by labor representa- tives upon the steady decline in the purchasing power of money wages. This tendency became increasingly appar- ent in negotiations and controversies over wages in all branches of mining and manufacturing. It was also brought prominently to the fore-front during the period of 1910-1915 in formal wage arbitrations between the rail-

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