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

CONSTRUCTIVE REMEDIES NEEDED 265 generally adopted prior to the recent widespread effort to reduce the costs of distribution. Inventories of all kinds of accumulated stocks of raw materials and commodities for sale were kept at a minimum, and buying only for current needs had been made possible by improved sys- tems of transportation. Associations of producers in different industries had also constantly gathered and dis- seminated among their numbers information relative to producing and marketing conditions. By these methods the lag between production and consumption had been lessened, and through cooperation within certain indus- tries the relation between production and consumption had been to a greater or less degree satisfactorily readjusted. As industry advanced, however, the need of solving the larger problems constantly became more apparent. Dis- organized or overexpanded industries, such as bituminous coal mining and textile manufacturing, constituted weak spots, which affected adversely the whole industrial struc- ture and all its processes. The realization also of maxi- mum economies, both in production and in distribution, were checked by archaic anti-trust laws. Furthermore, it became apparent that there was not sufficient centralized control or information relative to the development of new industries or the expansion of old ones. Overproduction, maladjustment, or retardation has, therefore, constantly menaced the new industrial organization, and has fre- quently developed in certain branches, thus preventing the realization of the widespread benefits which should have been accomplished. The recognition of this condition of affairs has led to the demand that production and distribution should be released from the restrictions of anti-trust legislation and thus enabled to consolidate and secure the freedom of action and the economies which are manifestly essential.

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