Word: wages
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Dates: during 1930-1939
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...Louis when Public Service Co. announced a 10% wage-cut for its 3,500 streetcar employes, the motormen and conductors promptly voted to strike in protest. After two days of negotiations, city officials secured from the company and its men a tentative agreement to arbitrate...
Again with the eyes of an internationalist the author seeks the combatants and the battlefield for the coming struggle between collectivism and individualism. Russia and the United States are picked to wage an economic battle in Asia, the world's greatest potential market. Here the book becomes interesting but unreliable because no one can predict on so vast a scale and expect to be believed. However, the weighing of the respective strengths and weaknesses of socialism and capitalism is particularly good and saves this last part of the work from becoming a distinct detriment...
Melvin Alvah Traylor, First National of Chicago: "Employers must be as quick to recognize the real wage (based on purchasing power of the dollar) in a rising market as labor must be to recognize the real wage in a falling market...
Despite the fact that most bankers deny they agitate for lower wages and insist that the cause of a reduction would be economic principle, not personal endeavor, the wage argument is roughly divided between bankers on one side and industrialists on the other. The argument of deflationists is that capital is taking its reduction in the form of impaired dividend payments, that the dollar buys more and Labor must take its loss. They also say a lowered wage-scale will cheapen manufactured goods, unearth new markets...
...situation at present is that there is a growing feeling that wage-cuts are inevitable, although the nonunionized steel industry and the highly unionized railroad industry will probably be the two which decide the course of events. Myron Charles Taylor of United States Steel Corp. has said that the entire matter now is "in the lap of the Gods." When he returns from Europe in June the fate of the U.S. wage scale will probably be known. If it is pressed downward, pessimists say that the nation will revert to the long gloom...