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 X. The real significance of the new industrial revolution, and the conditions of future progress

Collection:: Economics Books

238 INDUSTRIAL REVOLUTION AND WAGES culture, factories, and steam railroads by improved me- chanical processes during the years 1923-25, may be taken as ultra-conservative. About 600,000 of these, he calcu- lated, came from the mills and factories, 100,000 from the steam transportation system, and 350,000 from agricul- ture. The number of factory and mill workers displaced was probably larger, as Mr. Gregg, to be conservative, took only one-half of the estimated decline in employment in manufacturing shown by the index figures for this period of the Federal Reserve Board and the Bureau of Labor Statistics. The depression in agriculture and the exodus to the cities accounted for probably two or three times the num- ber, as estimated by Mr. Gregg, who were displaced by agricultural machinery and who sought work in mines and manufacturing establishments. To all classes of dis- placed employees must also be added two other new and large groups seeking work: (1), an average of about 250,- 000 each year from foreign immigration, and (2), between 1,000,000 and 2,000,000 applicants from the native popula- tion who would normally each year reach the employable age, due allowance, of course, being made for those who would be eliminated from industrial employment through disability or death. Of even greater interest were Mr. Gregg’s estimates of the new industries and services which absorbed the work- ers thus displaced, together with the new additions to the labor supply brought about by immigration and by the normal increase of those of employable age. He frankly confessed that these calculations, which are reproduced on following page, were to some extent guesses, and that others might differ, but they might be accepted as indicat- ing the significant industrial trends that had been in prog- ress.

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