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 III. The war period - an interregnum

Collection:: Economics Books

CHAPTER III THE WAR PERIOD—AN INTERREGNUM The period of our participation in the Great War, so far as any bearing upon the principles or theories of wages was concerned, actually constituted an interregnum. Dur- ing part of the year 1917 and the whole of 1918, the previous movement toward constructive change practically ceased. It was lost sight of in the all-absorbing problem of maintaining and accelerating industrial production for essential war purposes. While the war was going on, “wages and hours of labor,” as has been correctly stated, “were rarely deter- mined upon a sound or scientific basis. As a rule, the governing factor was necessity. . . . Speeding up and increasing production were the first considerations in every industry ; the cost was a factor of second importance or of no importance whatsoever. . .. Employers began bidding against each other for skilled workers, and soon found themselves obliged to resort to the same tactics to secure any kind of labor. . . . This meant that wage-rates were adjusted largely on the basis of the maximum de- mands of employees as modified by the maximum con- cessions which could be wrung from employers.” NecessaARY CONTROL oF CAPITAL AND LABOR This end was finally accomplished by the government arranging a truce for the period of the war between capital and labor, and the establishment of the War Industries Board, the Labor Policies Board, and the National War gan Tie Industrial Code,” Lauck and Watts. Funk & Wagnalls Company,

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