The Principles of Economics, with Applications to Practical ProblemsFetter, Frank A. (Frank Albert)
General
The Principles of Economics, with Applications to Practical Problems
Fetter, Frank A. (Frank Albert)
Economics
This work may or may not be less thought-awakening than work with simple
tools. There is a general improvement along all the lines of
intelligence, morals, and health. The conditions in the cities as
regards health and morals are approaching those of agricultural
communities. While many factory districts are forlorn, there may be seen
around many factories more happy conditions, better buildings, better
sanitation, increased leisure for workers, workmen's clubs, educational
agencies, and many other evidences of civic and social progress.
[Sidenote: Problems of large industry]
6. _The great social consequences flowing from the concentration of
industry and wealth are the most serious problems in the relation of
machinery to labor._ The ownership of tools was widely diffused in
medieval times. It is not yet evident how many can own a share in great
factories, but the control drifts into few hands. It is not yet clear
what social effects great corporations will have on our democratic
institutions. Many problems of large industry remain to be solved in the
near future. The question in the old form, as to the effect of machinery
on labor, is no longer open. It has been clearly answered by experience
and explained by theory: the economic effect of machinery is to lift the
productiveness and efficiency of the average man. The benefits are
unequally distributed, but nearly all share in them to some degree. The
question which the future will have to answer is, What will be the
social and political effects of the great fortunes that have been made
possible by the enormous development of machinery?
CHAPTER 27
TRADE-UNIONS
§ I. THE OBJECTS OF TRADE-UNIONS
[Sidenote: Definition and purposes of trade-unions]
1. _A trade-union is an association of wage-workers for purposes of
mutual information, mutual help, and for the raising of wages._ The term
trade-union is used in a general sense both of combinations of workers
in the same trade, and of men in different trades, though usually the
latter are called _labor_-unions. The "Knights of Labor" is a good
example of the labor-union, the "American Federation of Labor" of a
combination of trade-unions. The Knights of Labor is composed of local
branches to which workers of every class except lawyers and
saloon-keepers are admitted. The Federation of Labor, however, is
composed of chapters, or lodges, that are homogeneous, all the men of
each lodge being in the same trade.
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