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

288 INDUSTRIAL REVOLUTION AND WAGES reason that it is necessary to the permanent welfare of labor; it is vital to the best interests of the workers that they should squarely and practically accept the principle of cooperation on the basis of economic accomplishment, and thus permanently identify their interests with those of industrial progress and efficiency. Ultimately this pro- cedure will result in labor becoming capital and in the com- plete democratization of industry. To management and capital such a method of procedure is also of equal importance, because they cannot hope to realize the maximum of industrial efficiency without the wage-earners’ cooperation. It is also essential in order to prevent serious retardation of and losses in industry. Otherwise, discontent will develop together with recurrent losses from strikes and lockouts. Labor’s cooperation, in other words, is now generally recognized as essential to in- dustrial peace, stability and maximum efficiency. AN INDUSTRIAL CODE AND COOPERATION It would be wise industrial leadership, indeed, to extend also an agreed-upon arrangement for cooperation between management and labor, beyond the principles of wage de- termination, to the other guaranties and safeguards of in- dustrial democracy. The most important of these is the right of labor to organize and bargain collectively through representatives of its own choosing. The denial of this right is, in reality, the greatest cause of industrial unrest and dissatisfaction, and of actual industrial conflict and loss in the country at the present time. There can be no real peace and cooperation in industry until this right is generally guaranteed. The organized labor movement is fundamentally dedicated to its attainment. Agitation, strikes, and huge attendant losses, will continue until it generally prevails. Its recognition is ultimately inevitable.

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