Thirdly, provision would have to be made for the reconsideration, at
stated intervals, of the profits return that is set as the mark of just
and sound distribution. Thus heed could be taken of any significant
changes in the price level, in the conditions of supply and demand for
capital, or in any of the other relevant considerations. Likewise,
provision would have to be made for the periodical revision of the list
of enterprises and industries used in the computation of the profits
return for industry as a whole. These matters, though vital, must be
left without detailed consideration.
Nevertheless, it is idle to overlook the amount of labor that would be
involved in any attempt to keep a record of the profits return in
industry. It would be dreary, and of a type demanding specialized
knowledge and disinterestedness. Furthermore, any such plan would
probably have to be put through in the face of the resentment of most
business men. That resentment, however, is likely to flash out against
any proposals that look forward to securing industrial peace by giving
the wage earners a more assured position in industry, and ready access
to the facts of business operation. The standpat temper of those
business men who argue that their business is entirely their own
private concern would make impossible any policy of wage settlement
that did not throw the balance of industrial power in their hands.
Unless they visualize their position in different terms than these,
little hope can be entertained that any proposals calling for a record
of profits will be supported by them. But then it is the normal role of
the peace-maker to seek concessions that contestants are not ready to
make; to plead general necessity where contestants see only their own;
to represent each side to the other in its best light.
Public-domain text, read in full here on John Shaqi.
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