The stock market crash - and after

Bibliographic data

Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter X. Labor's Coöperative Policy

Collection:: Economics Books

162 The Stock Market Crash—And After increased use of machinery should utimately double or triple the real wages and earnings of labor. The tragedy of the past has been in the opposition of so many misguided labor leaders, who have in- sisted on limitation of output and the quantities of goods available for wages and profit. The “make work” policy of labor, just as the monopolistic re- strictions of employers seeking to extort higher prices, had kept wages lower than they would other- wise be. Baltimore & Ohio Plan The success of the plan of codperation between management and men on the Baltimore & Ohio Railroad, backed by organized labor, is particularly noted in Recent Economic Changes as typical of the increased “tempo” of activities during the past seven years. When at the centenary of this railroad in the fall of 1927, it ran its “Tom Thumb” locomotive, a reproduction of the first one built in America, this observance had a special meaning for American or- ganized labor. It meant that at the close of its first century, the employees of the Baltimore & Ohio Railroad had helped contribute to organized Ameri- can Industrialism an invention of superior efficiency, quite as significant as that of the steam locomotive. Daniel Willard, president of the road, testified at a meeting of the American Civic Federation to the value of this plan, stating that it was “useless for the road to spend $250,000,000 on improvements

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