Word: bonus
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...paid bonus is the latest brain child of Washington New Dealers. Concocted from a combination of Keynes' plan of "How to Pay for the War" and extravagant demands of Veterans of Future Wars, it is a scheme simple enough for even the non-economist to grasp. Cambridge Professor John Maynard Keynes, now in the United States to speed Lend-Lease aid, has proposed lopping off the excess of total wages over total goods available for consumption by paying workers partly in bonds rather than cash. This would keep prices from rising in the wartime world when income soars while output...
Washington, unable to take that drastic a step, feels that its bonus scheme would answer post-war slump problems as well as strengthen army morale. By paying the trainees in non-transferable five year bonds the $20 differences between the $30 a month that draftees get after four months service and the $50 a month which the minimum wage law would guarantee them in private industry, the Administration could boost esprit de corps. Later on the army's pay system might be a good argument for slipping the same medicine to labor...
...industrial engineer, who made a survey of possible remedies. Apparently insignificant changes, such as the rearrangement of the shop layout, resulted in an increase in the average shop production from 78 to 90 per cent of standard requirements. The most striking alteration, however, was the introduction of the "group bonus payment system," which caused production to jump once more, from 90 to 104 per cent. While the wage scale at the Bindery at the present time is higher than those of outside firms, the prices are 15 to 40 per cent lower...
...extravagant to be mentioned out loud yet, the idea was a sort of prepaid Bonus: to issue bonds to the boys in the training camps. Trainees now receive $30 a month after four months service. But the minimum-wage law puts a floor of around $50 a month under wages. If the trainees were put under the Wage-Hour Law (ignoring the cost of their room & board), all of them would qualify for a pay boost of $20 a month...
...when True Story (priced at 15?) found its sales slipping in competition with 10? magazines, distributors were offered bonuses for keeping up their sales quotas. As the bonuses were scaled it was made profitable for distributors to "eat" copies-i.e., to destroy unsold copies instead of returning them, since the bonus was big enough to leave something over after a distributor had paid for the copies he destroyed. Because the MacFadden account was a profitable one, the distributors "ate" copies and liked...