232 INDUSTRIAL REVOLUTION AND WAGES 
tivity of our industry, but prosperity should not prevent us 
from recognizing that each step in the march of progress 
brings us face to face with new problems whose solution will 
require all the knowledge we can muster and all the wisdom 
we possess. 
As to the soundness of these conclusions there can be 
no doubt. Altho the recent period of new industrial thinking 
and leadership has been marked by remarkable productive 
gains, it has also brought into play new forces which must 
be intelligently dealt with, and has been accompanied by 
a train of major and minor problems which must be solved. 
The new industrial revolution is, as a matter of fact, in 
the full flush of its early development. It has, as might 
be expected, already produced problems and conditions 
some of which are of fundamental importance in their 
bearing upon the future. They must, of course, have our 
best thought and action if the real advantages of the new 
industrial order are to be attained. 
ProBLEMS AND Conpitions WHIcH HAVE 
BeeN DEVELOPED 
The more pressing and vital questions which have 
appeared as an outgrowth of the new era of industrial 
efficiency require immediate and serious consideration. 
Other more general and relatively less acute problems and 
results also are beginning to be clearly discernible. The 
general situation in which industry now finds itself may 
be briefly recapitulated as follows: 
1. Is too much of the increased purchasing power and 
leisure, which have come from increased productivity, 
devoted to “buying and using automobiles, radios, 
movies, silk stockings, cosmetics, bootleg liquor, and 
sensational journalism, and not enough upon adequate