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 IV. Post-war conflict and reconstruction

Collection:: Economics Books

CONFLICT AND RECONSTRUCTION 55 worker would be getting more than that to which he has a right if he were paid something in excess of this ethical minimum. Why, then, should we assume that this is the normal share of almost the whole laboring population? Since our industrial resources and instrumentalities are sufficient to provide more than a living wage for a very large propor- tion of the workers, why should we acquiesce in a theory which denies them this measure of the comforts of life? Such a policy is not only of very questionable morality, but is unsound economically. The large demand for goods, which ls created and maintained by high rates of wages and high purchasing power by the masses, is the surest guaranty of a continuous and general operation of industrial establishments. [t is the most effective instrument of prosperity for labor and capital alike. Protestant churches of all denominations also supported the principles underlying this pronouncement. The Inter- church World Movement itself in 1919 called a conference in New York City to formulate a nation-wide, constructive basis of procedure. Two industrial conferences composed of representatives of capital, labor, and the public were also convened by President Wilson in the years 1919-1920 and urged by him to formulate a new constructive program looking toward industrial justice and permanent indus- trial peace and democracy. REVERSION TO INDUSTRIAL CONFLICT Organized capital and labor, however, were unable to agree on a definition of collective bargaining. On this rock the attempts toward a new constructive policy were shattered. New principles of wage-determination never really passed beyond the phase of agitation to formal joint- discussion. This deplorable condition of affairs was brought about by extremists in the forces of both capital and labor.

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