The new industrial revolution and wages

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Monograph

Identifikator:: 1819853969

URN:: urn:nbn:de:zbw-retromon-207464

Document type:: Monograph

Author:: Cannan, Edwin http://d-nb.info/gnd/118666916

Title:: Money

Edition:: 6. ed.

Place of publication:: [London]

Publisher:: King

Year of publication:: 1929

Scope:: XII, 120 Seiten

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

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Document type:: Monograph

Structure type:: Chapter

Title:: Part III. The recent historical example

Collection:: Economics Books

180 INDUSTRIAL REVOLUTION AND WAGES ous industries. Explanatory studies and suggested methods of practical application were also prepared and distributed by the national Federation office. As the result of this educational work, the organized labor movement has irrev- ocably espoused the productivity theory of wage-fixing as the basis of future policy and action. TaE PracricaL EvoLuTioN oF THE THEORY So far as the history of the development of the “pro- ductive efficiency” theory as to wages is concerned, the re- markable feature of the movement was, as has already been shown, that the idea has been repeatedly put forward by labor organizations, both before and immediately after the war, as the justification for wage claims, or as the ground for a more. equitable distribution of the output of industry. Their efforts, however, had been more or less futile. Stu- dents and writers on economics had always, of course, clearly developed the relation between rates of wages, labor costs and the productivity of labor, but even they had been most interested in showing that labor could hope to secure more only by producing more. Their productivity theories had not gone further in a practical way than preachments against expecting wage advances without increasing output. Altho the principle had been used in a case in 1910, the first comprehensive presentation of the “productive effi- ciency” theory was put forward by the Brotherhood of Locomotive Firemen in a wage arbitration with Eastern railroads in New York City in 1913. The effort was so successful in the way of securing advances in rates of pay, that the same argument was made the basis of their claims by both Locomotive Firemen and Engineers in 1914-1915 "1 “Wages and Labor’s Share,” by Jurgen Kuczynski and Marguerite Stein- feld—Research Series, No. 2; also “Wages and Labor’s Share in the Value Added by Manufacture,” Research Series No. 4. American Federation of Labor, Washington, 1927. 2 See pp. 32-40, 69-70.

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