Finanzen und Steuern im In- und Ausland

The new industrial revolution and wages

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Monograph

Identifikator:: 1823190766

URN:: urn:nbn:de:zbw-retromon-220010

Document type:: Monograph

Title:: Finanzen und Steuern im In- und Ausland

Place of publication:: Berlin

Publisher:: Hobbing

Year of publication:: 1930

Scope:: 896 S; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Erster Hauptteil. Deutsche Finanz- und Steuerstatistik

Collection:: Economics Books

ABANDONMENT OF OLD-TIME THEORIES 87 falling, the underlying economic and social considerations, it was asserted, became the most important factors entering into the determination of wages. It was only when these were fulfilled in their entirety that the price level, it was claimed, could be allowed to affect earnings. These fun- damentals were: (1) whether the original basis of wages was correct or just and reasonable, and (2) whether exist- ing rates of pay were sufficient to maintain adequate living standards. Constructive and intelligent students and industrial lead- ers, as has been set forth in the preceding discussion, also recognized that the basic pre-war or post-war standards of compensation may have been entirely inadequate or unfair, and that the subsequent readjustment of such standards according to changes in living costs would be a hopeless procedure, for the obvious reason that, under such a method, old inadequacies or injustices would be perpetu- ated, and there would be no opportunity to improve the living conditions or to advance the general economic and human well-being of industrial workers. Specific examples have already been cited, as in the case of the award of the United States Bituminous Coal Com- mission of 1920, to show how the cost-of-living theory was set aside in favor of the “living wage” basis of wage adjustments. Additional illustrations may be further sub- mitted, which show, irrespective of the “living wage” and other fundamental principles, how the tendency developed toward the repudiation of the cost-of-living and the com- modity basis of wage adjustments. The following significant citation indicates the general attitude. It is from an award of an arbitration board for the Springfield (Massachusetts) Street Railway Company and its employees, of which the chairman was Mr. James J.

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