Full text: The stock market crash - and after

Labor's Codperative Policy 165 
Rival unions defeated the attempt to secure union- 
management codperation when this plan was first 
broached for Philadelphia in 1911. Without dis- 
criminating against union men, however, the plan 
worked in that city for sixteen years prior to the 
recent two-thirds vote by the union that made it a 
plan for organized labor. 
Like the somewhat different sort of management 
of the Baltimore & Ohio Railroad in the case of its 
shopmen, the so-called “Mitten Management” plan 
justifies its cooperative agreement with organized 
labor on two grounds: first, organization is needed to 
protect the rights of labor; and second, labor organ- 
ized for economic efficiency has the greatest power 
for public and private good. 
Both systems freely provide union representation 
in management, and agreement to share fairly any 
consequent benefits. 
European Labor Dogma Reversed 
Bettered industrial relations are mentioned by the 
visiting European delegations investigating Ameri- 
can industries as one explanation of the growth in 
our prosperity. Here the workmen have awakened 
to the fact that improved methods of production are 
of benefit to themselves as well as to the owner and 
the public. In the new labor compacts and in the 
union banks, laborers have become capitalists. This 
is contrary to the European industrial dogma, but it 
seems to be winning, because it is based on sound 
human psychology and philosophy.
	        
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