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

308 INDUSTRIAL REVOLUTION AND WAGES civil liberty, held the predominant place in American po- litical life. With the advent of modern trade and indus- trial conditions, however, all this changed. Political issues, instead of centering around the abstractions of political science and constitutional law, became problems of applied economics. Practically all the political questions of the present era are business and industrial questions. The Government has, therefore, been forced to take action toward industry both by legislation and by administration, and has become closely bound up with the determination of principles or policies relative to industry, trade, and finance. Such action has been helpful in the past, when intelli- gently formulated and applied, and will be of the greatest assistance to industry in the future. It is for this reason that far-seeing industrial leaders are urging the necessity of securing the friendly cooperation of the Government toward industry to assist in coordinating and stabilizing in a constructive way the forces which have been developed in the new industrial revolution. These leaders in the manufacturing and mining industries have apparently been most favorably impressed with the experience of the trans- portation industry in its relation to the Government. They obviously feel the need of the same form of helpful and constructive relation with the Government which the rail- roads have had through the Interstate Commerce Commis- sion, and the banks through the Federal Reserve Board, and their attitude is undoubtedly sound. Such govern- mental regulation is essential to the proper expansion, co- ordination, and stabilization of our industrial system, or, in other words, a necessary condition to the permanent prosperity of the country as a whole.

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