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 II. Pre-war principles and methods

Collection:: Economics Books

PRE-WAR PRINCIPLES AND METHODS 25 Basic StanNpaArDps DEVELOPED During this period two minimum levels or standards were developed for use in wage-determination. They may be briefly defined as follows: (1) The “pauper or poverty level,” which represented roughly a standard of living just above the line where families were obliged to accept aid from charity or where they would run into serious debt. Industries paying wages which did not permit a higher level than this were termed parasitical and anti-social, and were condemned as causing high rates of infant mortality, encouraging woman and child labor, and developing “family incomes” instead of ‘ndividual wage standards. (2) The “minimum of subsistence level,” which was based essentially on mere animal existence and allowed little, if anything, for the needs of men as social creatures. At this level was no allowance for temporary unemploy- ment, and no provision for the savings that are necessary to take care of sickness, accident, or old age. It was claimed that workers receiving this wage were only a few weeks removed from the possibility of dependency. Both of these standards, with emphasis, as a matter of course, on the latter, were put forward as a bulwark against the serious effects upon wages of the unhampered play of the forces of supply and demand. LaBor OFriciaLLy DecLarep NoT To BE a CoMMODITY An official and general sanction of the point of view that labor was not a commodity was established by the Con- gress in 1916. Under the provisions of the so-called Clayton Act, passed in that year, it was declared that “labor was not a commodity or article of commerce.”

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