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 XII. Labor and the new industrial revolution

Collection:: Economics Books

274 INDUSTRIAL REVOLUTION AND WAGES more successful policy. As a matter of historical com- parison and economic evolution, therefore, one of the most interesting outgrowths of the new industrial revolution has been the reports to directors and stockholders by the chief executives of our leading corporations, which have ascribed the recent unprecedented achievements in trade and indus- try to the same constructive policies upon which the ma- jority of industrial and financial leaders heaped unreserved maledictions prior to the year 1923. In the zeal for and pride in the marvels of the new industrial day, however, the former anathemas directed against labor leaders, econ- omists, and a minority of far-sighted financiers, indus- trialists, and publicists, have fortunately been forgotten. LaBor’s Status IN THE NEw INDUSTRIAL ERA Several years ago President Coolidge in a public address declared: “One of the outstanding features of the present day is that American wage-earners are living better than at any other time in our history. . . . Real wages, as de- termined by the things that money wages will buy, are higher to-day than ever before in our history. ... All this has been accomplished in spite of a general shortening of the hours of labor in the industries.”* As time has passed since this statement was made, officials, students of economics and publicists have further stressed this situa- tion and congratulated the country on the unprecedented status of industrial workers. Representatives from the leading industrial nations of the world have also visited our industries to learn the magic secrets of our prosperity, which has showed generous profits to capital, in the face of higher wages to labor and lower prices to consumers.” In the latter part of 1926, Mr. Carl Snyder, Statistician of the 1 Delivered September 7, 1924. 2 See footnote, p. 3.

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