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:: Zweiter Hauptteil. Statistik ausländischer Finanzen und Steuern. Unterlagen zum internationalen Vergleich

Collection:: Economics Books

THEORY OF PRODUCTIVE EFFICIENCY 181 in an arbitration with the railroads located West of the Mississippi River. The extent and scope of the analysis and arguments presented in this and subsequent cases has already been shown in detail in the preceding discussion. From this time forward, the “so-called productive effi- ciency argument” became a part of practically all railway wage proceedings. During the depression of 1920-1921, when railroad labor controversies reached a post-war cli- max, the “productive efficiency” argument was further elaborated to account for the financial condition of the rail- roads at that time. It was claimed by the economist of the transportation employees that the physical and operating deficiencies of the railroads had arisen from the improper diversion of past revenue gains, and the proper policy to adopt for the rehabilitation of the industry was not to at- tempt to reduce wages or labor costs by wage-cuts, but for the railroad fiscal agents to arrange extensive credits so that their physical inadequacies could be remedied and lower operating costs assured. The representatives of all classes of railroad employees supported this view as to the existing plight of the transportation industry in proceed- ings before the United States Railroad Labor Board in Chicago, in April, 1921. as follows :2 The results of these methods of financial control, so far as the financial status and physical condition of the transporta- tion industry prior to the war is concerned, together with the relation of the employees to the final situation which devel- ped, may be briefly summarized as follows. 1. The increased returns resulting from the efforts of op- erating and mechanical officials, and of railway employees in general, were absorbed by unwarranted security issues and 1 See pp. 32-40. 2The U. S. R. R. Labor Board, Docket No. 353. Statement of W. Jett Lauck on Behalf of the Organizations Represented in Groups 2 and 3, pp. 351 et. seq.

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