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

LABORS NEW STATUS 308 made possible through coordination of separate plants and corporations in the principal branches of manufacturing and mining. They realize that the same policies of adjust- ment of production and consumption, which have been suc- cessfully developed by associations in individual industries, must now be applied to industry as a whole. Moreover, it has become evident that industry and trade must be released from the restriction of the anti-trust laws, so that the maxi- mum economies in production and distribution may be made possible. This freedom to industry—this liberation from the effects of negative or restrictive legislation—is indispensa- ble. It means further, however, that industry will have to submit to an enlightened policy of regulation. Moreover, it is clearly apparent that industry must itself work out and apply the broader policy of inter-industry coordination or the public will inevitably be forced to impose such a policy upon industry. One of the most encouraging features of the present situation is that leading industrialists and finan- ciers have already taken the initiative in formulating and discussing proposals for constructive action. [NDUSTRIAL PROGRESS AND THE PUBLIC WELFARE The broader and even more fundamental problem of the relation between the future constructive program of in- dustry and a public policy toward business and industry, is indissolubly bound up with the future status and perform- ance of business itself. Fortunately, there is not at present any conflict between government and industry, so far as en- lightened and public-spirited leaders of industry are con- cerned. There has been and will continue to be a certain type of industrial leadership which has sought—especially in connection with excessive and unnecessary tariff rates, public land distribution, shipping, and more recently in the

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