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
The definition given is broad enough to include the various degrees of
help given and the various methods adopted by trade-unions to accomplish
their objects. Trade-unions are mutual-benefit associations: insurance
against accident, sickness, death, or lack of employment, forms an
important part, and in some cases almost the whole of their work. All
unions in a measure serve their members as employment bureaus, while in
some unions this is a most important feature. Through trade-papers,
correspondence, and personal meetings, information is exchanged
regarding trade conditions, and great mutual service is thus rendered.
But a great deal of the help given is in the more impersonal economic
ways: help to get from the employers better wages, to secure shorter
hours, to improve in various ways the conditions of employment.
[Sidenote: Lack of personal touch between employers and workmen]
2. _The organization of workers has resulted from the separation of the
economic and personal interests of employers and workmen._ The control
of industry has become more concentrated during the age of machinery,
and this has reduced the feeling of economic unity among the different
ranks of industry. There is now to the average workman no possibility of
becoming a master, an employer. The largeness of industry forbids,
moreover, the meeting and personal acquaintance of employer and workman
which were before possible. Misunderstandings grow when men cannot talk
over their differences. The social chasm has widened between the workmen
and the responsible director of industry. As a result of these changes,
the attitude of the employer very often has become that of the buyer of
labor as a mere ware. He has with the mass of his employees no personal
relations whatever. Under these conditions, when the employer feels the
presence of competition, he is more likely to force the lowest wage that
is possible. It is not unusual for the immediate direction of factories
to be intrusted to paid managers, who are responsible to the
stockholders and whose work is judged only by the dividends they succeed
in earning. Many examples might be found where the managers or the
resident owners have wished to pursue a more liberal policy than the
absentee shareholders would permit.
[Sidenote: Lack of personal acquaintance among workers]
Public-domain text, read in full here on John Shaqi.
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