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

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Title:: Chapter III. The war period - an interregnum

Collection:: Economics Books

THE WAR PERIOD—AN INTERREGNUM 45 food, clothing, fuel, light, housing, and sundries weighted in accordance with the relative importance of different items in these average budgets. A continuing basis of measuring changes in living costs was thus obtained. These results or indices were accepted as official by all wartime wage adjustment agencies. In addition to original awards on wage controversies, the general policy was also adopted of making changes in wages after the lapse of a stipulated time in the future, usually by six-month periods, on complaint of one or both of the parties, based on varia- tions—as a rule upward—in living costs. Some awards carried clauses providing for automatic changes in wage- rates each six months, should there be important increases or decreases in the cost-of-living index. In still other instances, wage adjustment agencies, on their own motion and without complaint, raised wages as living costs rapidly mounted. This method of adjusting rates of pay to price advances was the fundamental wage policy followed during the war. STANDARDIZATION OF RATES oF Pay At first it was agreed by government officials, employers, and representatives of labor organizations, that in making adjustments of wages according to living-cost changes, local standards and the custom of localities should also be taken into consideration. This principle was practically abandoned after a time, however, for two reasons: (1) the intense competition for labor demonstrated the wisdom of having the same rates for similar work and services throughout the country, in order to avoid the migration of workers from one section to another because of the lure of better conditions and higher earnings ; and (2) pre- conceived notions as to variations in the cost of living in different geographical areas, which had previously been the

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