What is wrong with the British iron and steel industry?

Bibliographic data

Monograph

Identifikator:: 1868556093

URN:: urn:nbn:de:zbw-retromon-249484

Document type:: Monograph

Title:: What is wrong with the British iron and steel industry?

Place of publication:: [London

Publisher:: The London Caledonian Press]

Year of publication:: 1931

Scope:: 23 S.

Digitisation:: 2022

Collection:: Economics Books

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that course, and to fix, if necessary, the prices of iron and steel in the home market.” We hold no brief for any particular form of machinery, but a properly constituted body as part of a nationally planned scheme of organisation and vested with the neces- sary authority would give the industry the security of fair competitive arrangements, with due regard to the interests of both the producers (including labour) and the consumers. In view of its authority and the bargaining power it would possess, the results of its efforts would be rather in obtaining agreements than in the direction of prohibition as proposed in the above resolution. Moreover, part of the difficulty is the extent to which the industry on its distribution side is in the hands of merchants and middlemen. On the general principles to be applied in the economic relations between countries we support those laid down by the World Economic Conference of 1927, and we would urge the British Government to follow up the efforts already made by the President of the Board of Trade, Mr. Graham, to induce the Governments of other countries, in common with that of Great Britain, to implement the approval given by them to the World Economic Conference recom- mendations through the official declarations of their re- presentatives at Geneva in 1928 and to co-operate with any Government "in that direction, as being an international policy designed to promote the common welfare of the people and the peace of the world. On the other hand, we regard as consistent with, and, in its broad aspects, essential to, a policy of sincere effort in that direction, a definitely constructive policy in rela- tion to the national economic life by organising and stimu- lating its industrial activities, and in that connection securing it against those unfair and aggressive forms of competition ‘made possible only by the exploitation of labour and a degradation of healthy commerce and effi- cient industry. This principle has had to be recognised by the Labour Government in its treatment of the Coal Industry. The regulation of output and prices as a part of industrial organisation are but devices to counter the effects of cut- throat competition, to secure an economic price for the coal owner and fair wages and working hours for the mine- worker, This is justified by the fact that as the Coal In- dustry is essential to the economic and social life of the nation, it must be secured from that exploitation which uncontrolled and unregulated competition has produced. This question is one which has agitated the minds of our members on different occasions since the War, and resolutions in various forms have reached the Executive from branches and Divisional Committee meetings. The feeling was acute in the earlier post-war years at the time when currency inflation was at its height in the countries (17)

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