Deutsche Geschichte: Deutsche Geschichte

Deutsche Geschichte (Bd. 5, Hälfte 2)

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Multivolume work

Identifikator:: 1892063557

Document type:: Multivolume work

Author:: Lamprecht, Karl http://d-nb.info/gnd/118569015

Title:: Deutsche Geschichte

Place of publication:: Berlin

Publisher:: Gaertner

Year of publication:: 1891-

Collection:: Economics Books

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Volume

Identifikator:: 1892066122

URN:: urn:nbn:de:zbw-retromon-236166

Document type:: Volume

Author:: Lamprecht, Karl http://d-nb.info/gnd/118569015

Title:: Deutsche Geschichte

Volume count:: Bd. 5, Hälfte 2

Place of publication:: Berlin

Publisher:: Gaertner

Year of publication:: 1895

Scope:: XV, S. [359]-767

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Fünfzehntes Buch. Drittes Kapitel. Kirchliches und politisches Reifen des Protestantismus

Collection:: Economics Books

204 INDUSTRIAL REVOLUTION AND WAGES Secretary Davis has further advocated the raising of the wages of unskilled workers as well as all other classes of wage-earners as a means of increasing purchasing power and prosperity. In his Annual Report for the fiscal year 1927, he said :* As I have repeatedly pointed out, our home market means the purchasing power of the workingman, and his purchas- ing power means the relation of his wages to production and price. Our relatively small exports, when measured in per- centage of the whole of production, must emphasize to any thinking man the fact that in home market, not in exports, lies the safety of American industry and American business. The way to enlarge the home market is to enlarge the pur- chasing power of the vast majority of persons who consti- tute that market; that is to say, the workers. I have pointed to the fact that so long as the worker is paid in proportion to his greater productiveness, no fear need be felt for the high-speed automatic machinery that is constantly being introduced into industry. It is everlastingly to the credit of the American worker that he has made the most willing use of this machinery, in full confidence that he will receive, in wages, his due share of this greater machine pro- duction. I must also credit the American employer, who, in general, has seen good business in paying good wages, and has willingly paid them, in full confidence that he can count on maximum output from his employees. It is this mutual willingness of the worker to produce and of the employer to pay for production that accounts in large measure for our present prosperity. It has crowded our home market with millions of ready consumers and buyers; it has stocked that market with infinite variety of good for improving their standard of living. . . . The low-wage fallacy is the worst of all. A dullard must see the folly of killing the purchasing power of the greatest 1 Annual Report of the Secretary of Labor, 1927, Part II—Comments and Recommendations; The Worker's Estate, pp. 137-144.

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