Before the United States Railroad Labor Board : Argument for a Wage Increase
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To quickly assess the difficulty of the text, read a short excerpt:
If the index of cost of living curve mounts above the index curve of wholesale prices in that industry, wages \Till slowly follovr the subsistence level across.
Note that this lack of relationship between the condition of an industry as shown by w'holesale prices of products and wages appears also in the start toward de- flation. Wages await the falling of the subsistence level and follow it. Thus two important facts concerning t the problem of wages as related to industry stand out in this cur...ve: (1) The fact that there is no relationship between the prosperity of an industry and the wages of its employees.
(2) The fact that this failure of industry to admit wage earners to a share in its prosperity enabled the metal products industry to profit enormous- ly by the period of inflation.
These facts are borne out very clearly in the next table with its accompanying chart, which shov;s the stages of inflation in the Chemical Industry. This industry also felt early the effect of the war.
Uote that the artificial stimulus of purchasing pov;er, which did not represent goods for exchange but only manufactured credit, caused the wholesale price of these commodities to rise until the average for 1918 is already more than 100^ above the pre-war level.
What to read after Before the United States Railroad Labor Board : Argument for a Wage Increase?
You can find similar books in the "Read Also" column, or choose other free books by United States Railroad Labor Board to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
If the index of cost of living curve mounts above the index curve of wholesale prices in that industry, wages \Till slowly follovr the subsistence level across.
Note that this lack of relationship between the condition of an industry as shown by w'holesale prices of products and wages appears also in the start toward de- flation. Wages await the falling of the subsistence level and follow it. Thus two important facts concerning t the problem of wages as related to industry stand out in this cur...ve: (1) The fact that there is no relationship between the prosperity of an industry and the wages of its employees.
(2) The fact that this failure of industry to admit wage earners to a share in its prosperity enabled the metal products industry to profit enormous- ly by the period of inflation.
These facts are borne out very clearly in the next table with its accompanying chart, which shov;s the stages of inflation in the Chemical Industry. This industry also felt early the effect of the war.
Uote that the artificial stimulus of purchasing pov;er, which did not represent goods for exchange but only manufactured credit, caused the wholesale price of these commodities to rise until the average for 1918 is already more than 100^ above the pre-war level.
What to read after Before the United States Railroad Labor Board : Argument for a Wage Increase?
You can find similar books in the "Read Also" column, or choose other free books by United States Railroad Labor Board to read onlineMoreLess
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