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

248 INDUSTRIAL REVOLUTION AND WAGES methods of cooperation and team play, we can never hope to secure the full benefits to which this productive policy entitles us.” UNEMPLOYMENT INSURANCE IMMEDIATELY NECESSARY Altho the theory of increased production, higher wages and purchasing power, and greater consumption is basically sound, and is generally accepted, it is also equally true and fundamental that this procedure will inevitably be at- tended with recurrent overexpansion, maladjustments, losses, and unemployment, unless a comprehensive plan of industrial cooperation and coordination is developed. Other factors are also involved in this constructive pro- cedure, and its discussion may at this point be deferred with the obvious comment that any general scheme of industrial coordination and stabilization must necessarily be slow in developing in an effective way, and pending this time, or, in other words, during the period of trial, experience, and evolution of such a program, immediate measures must be taken to protect wage-earners against the evils of unemployment. Otherwise, they innocently become the residual sufferers of and sacrifices to industrial progress. Aside, therefore, from the palliative measures of public policy which have already been mentioned, the only prac- tical, concrete method of dealing with unemployment, pending a greater degree of industrial stabilization, is the acceptance and application of satisfactory systems of un- employment insurance. Long experience abroad has dem- onstrated the soundness of such a procedure, and it should be generally adopted in American industries. Not only would human sufferings from unemployment be thus miti- gated, but the business losses from temporary industrial dislocations, as well as the likelihood of their recurrence,

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