Das Problem der Wirtschaftsdemokratie

The stock market crash - and after

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Monograph

Identifikator:: 1819912523

URN:: urn:nbn:de:zbw-retromon-208152

Document type:: Monograph

Title:: Das Problem der Wirtschaftsdemokratie

Edition:: 2. Aufl.

Place of publication:: Düsseldorf

Publisher:: Industrie-Verl.

Year of publication:: [1929]

Scope:: 186 S.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Hoffnungen und Tatsachen um den Artikel 165 der Reichsverfassung. Ein Bericht / von Dr. Wilhelm Steinberg, Düsseldorf

Collection:: Economics Books

124 The Stock Market Crash—dAnd After Scientific Workers in Industry After the war there was an exodus of professors capable of scientific research from the universities into industry. This was chiefly what may be called an accident, due to war inflation. Professors’ sala- ries had lost their purchasing power. There was a similar exodus from the scientific bureaus of the government in Washington. In order to live, re- search students and professors turned increasingly to the higher emoluments of industry, and industry soon found that it had tapped a new and vast resource in human ingenuity backed by scientific training. For almost the first time science in Amer- ica came to be appreciated for its cash value, the more so, perhaps, because the war had revealed how much farther Germany had made use of such tech- nical science and invention than the rest of the world. Another accidental cause of accelerating “tempo” of invention was that the war left wages I1§ per cent above the previous level and the cost of living only 70 per cent above it. Employers feared to cut wages, lest strikes and diminished output result, and they turned to labor-saving inventions instead. Thus a by-product of inflation, as in the case of the uni- versity professors, was pushed into industry to great economic advantage. In the past few years the industries have added gigantic research laboratories to their equipment. In the laboratory of the American Telephone and Telegraph Company today there are 4,000 scientific

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