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

50 INDUSTRIAL REVOLUTION AND WAGES and an established minimum should be construed in the light of these considerations; That for the present the board or its section should con- sider and decide each case involving these principles on its particular facts and reserve any definite rule of decision until its judgments have been sufficiently numerous and their operation sufficiently clear to make generalization safe. This resolution was submitted and adopted at the request of former President William H. Taft (now Chief Justice of the Supreme Court), who was at that time one of the public Joint-Chairmen of the National War Labor Board.* Its chief significance was three-fold: (1) in the precedents established in the future activities of the Board, where it was practically invoked in the adjustment of exceptionally low wage standards: (2) in the intimation that the prin- ciple was one which might be deserving of sanction under normal peace-time conditions, and (3) the injection of this principle into the wartime code for industry gave it a prominence which stimulated its discussion and advocacy in the period of post-war reconstruction. TuE EFFECTS OF THE WAR Because of the truce which had been arranged between capital and labor, the war period, therefore, was not marked by any decided changes in the theory and actual adjustment of wages. When the Armistice was signed, both capital and labor were, fundamentally speaking, highly dissatisfied. As cost of living had tended to advance more rapidly than money wages during the war period, labor, as a rule, was anxious to throw off all restraints, and by the use of organized pressure to secure immediate advances in rates of pay and improvements in working 1 Minutes of the National War Labor Board, July, 1918. Report of the Secretary of National War Labor Board, 1919. “The Industrial Code,” Lauck and Watts, 1922, Chapter IV, and also pp. 124-129.

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