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 IV. Post-war conflict and reconstruction

Collection:: Economics Books

CONFLICT AND RECONSTRUCTION 71 Mr. Lauck: “I think it would imply that, but the railroads interpret that to mean ‘comparative’ with other industries, and bring forth the argument that the railroads should not have more highly paid clerks or employees. Of course, the answer to that is that this is a semi-public body of workers, and they must consider standards that in the restrictions of other industries would not be considered.” The Chairman: “My view of it is that here are two men, and one man may agree to work for the other at any wage that he would be willing to accept, whether it is just and reasonable or not, but when organized society comes to fixing the wage, it is no more right to fix a wage below the point of living and comfortable living than it is to fix a return on capital below a reasonable point.” Mr. Lauck: “That is our contention exactly, Mr. Chair- man.” The Chairman: “I think you are right about it.” Senator Cummins afterwards publicly declared that it was his intention to amend the Transportation Act of 1920 by including the specific statement that the term “just and reasonable” wage implied the conception of a “living wage” for workers in the lowest-paid scale of occupation. His subsequent illness and death prevented the consummation rif this purpose. GENERAL PROTESTS AGAINST EXTREME DEFLATION Outside of the labor movement, there were also authori- ‘ative students of industrial conditions as well as promi- nent leaders in industry who realized the unsoundness of a policy of extreme labor deflation. They believed that a general readjustment of wartime rates of pay and working conditions was inevitable. They also keenly realized that such a procedure should be attended with the utmost cau- tion and with due consideration of other facts involved, if post-war labor readjustments were to make for the .

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