CHAPTER IX

INDUSTRIAL MANAGEMENT

ANOTHER potent reason for the long bull market
since 1922 is closely affiliated with that of scientific
research and invention emphasized in the last chapter.
 This added reason is industrial management.
Frederick Taylor is coming into his own today.
Taylor, like other pioneers and inventors of the past,
was not appreciated during his lifetime. He died
of a broken heart, especially because the laboring
men, the men he was trying most to help, regarded
industrial management and stop-watches as a means
of further “exploitation.”
Under other names Taylor's methods and ideals,
as developed by H. L. Gantt, Morris L. Cooke,
Wallace Clark, Henry S. Dennison, the Gilbreths,
and others, are coming into effect. President
Hoover has had his Committee on the Elimination
of Waste. We also recognize management engineering
 in what is called “mass production.” Big business
 is coming to be not only tolerated but appreciated.
 The “Fordizing” of business is nearly synonymous
 with developed management engineering.
Data pertaining to business management, obtained
by the experts of the National Bureau of Economic
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