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

62 INDUSTRIAL REVOLUTION AND WAGES decency below which a family can not go without danger of physical and moral deterioration. This budget does not include many comforts which should be included in a proper “American standard of living.” Thus no provision is directly made for savings other than insurance, nor for vacations, nor for books and other educa- tional purposes. On the other hand, a family with the items listed in this budget should be able to maintain itself in health and modest comfort. It would have a sufficiency of food, respectable clothing, sanitary housing, and a minimum of the essential “sundries.” Tue Cost oF A BupGeET LeveL NoT NECESSARILY A Fixep Money Cost The annual expense of maintaining the budget level above described may be arrived at by obtaining and totaling the current prices on each of the individual items entering into the budget. In subsequent labor controversies and arbitrations of wage disputes this budget became of the utmost importance because of its official character. For this reason it had an authoritative influence which previous studies, mainly emanating from private sources, lacked. It therefore became the center of discussions. revolving around the “living wage” principle. It was constantly put forward in the adjustments of wages of railroad employees, mine workers and other classes of wage-earners during the highly controversial years immediately following its pub- lication. OrriciaL SANcTIONS OF THE CosT-0F-LIVING AND Livine-WAGE PRINCIPLES In addition to the outstanding precedent furnished by the budget of the United States Bureau of Labor Sta-

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