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 V. The emergence of a new constructive policy

Collection:: Economics Books

1 NEW CONSTRUCTIVE POLICY 81 services per capita in the population. It is due to the in- creased skill, the advancement of science, to temperance, to the improvement of processes, more labor saving devices— but most of all it is due to the tremendous strides made in industrial administration and commercial organization in the elimination of waste in effort and materials. Nor has it been accomplished by imposing increased phys- ical effort upon our workers. On the contrary, actual physical effort to-day is less than ten years ago. There has been in this period a definite decrease in the physical effort, due to improved methods. Nor has it been accomplished by any revolutionary discovery in science. It is the result of steady improvement in management and method all along the line. [t is an accumulation of better practise in the elimination of waste. It is a monument to the directing brains of commerce and industry and the development in intelligence and skill of the American workingman. The result has been a lift in the standard of living in the whole of our people, manual worker and brain worker alike. This is the real index of °CONOmic progress. Shortly afterwards, these significant utterances by Sec- retary Hoover were sanctioned by Mr. Julius M. Barnes, at that time President of the United States Chamber of Commerce. In two articles in the June and August (1923) issues of The Nation’s Business, the official organ of the Chamber of Commerce, Mr. Barnes said, in part: Between the census of 1900 and 1920, twenty years of sig- nificant industrial development in this country, our population increased 40 per cent, and the volume product of our farms increased 38 per cent, so that we are securing the home pro- duction which maintains our people. In that period the volume production of our mines, coal and metals, increased 128 per cent; showing that this base of all industry was adequately maintained and developed and the volume of the products of our industry, the volume of

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