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 XI. Constructive remedies needed

Collection:: Economics Books

244 INDUSTRIAL REVOLUTION AND WAGES conditions. Such a constructive program, it was shown, would tend to stabilize and make more uniform the demand for labor, and would ameliorate the sufferings of tempo- rary crises arising from maladjustments between industrial production and consumption. From the standpoint of a permanent removal of the unemployment evil, three plans of procedure, outside of the internal control of industry, have also in the meantime been put forward: (1) to develop markets abroad which would supplement domestic demand by absorbing the sur- plus output of American industry; (2) to increase domestic demand for industrial products by developing a higher degree of domestic purchasing power through advancing the rates of pay of industrial workers, or, in other words, giving to them a larger share in the productive gains of industry; and (3) the establishment under the auspices of the Federal Government of a Board that would collect and disseminate all forms of information relative to the stabilization of business and industry, with the under- standing that the Board itself, on the basis of these data, would make recommendations as to policy with the object of preventing dislocations in production and dis- tribution. This latter proposal is a splendid one, and, if properly restricted as to form and jurisdiction, is thoroughly prac- tical. Some such agency is inevitable in order that infor- mation may be collected and disseminated for the benefit of industry and also as a basis of study by disinterested public representatives charged with formulating policies for the proper coordination of industrial activities. . Lead- ing representatives of industry itself, as will be shown iE In a theoretically sound but practically impossible form, at present, such a budgetary board has been advocated in “The Road to Plenty,” by William T. Foster and Waddill Catchings; publications of Pollak Foundation, Boston, 1928; also in an article in the Century Magazine, July, 1928, by the same authors, entitled “Progress and Plenty.”

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