Book Description

Excerpt from The Quarterly Journal of Economics, 1921, Vol. 35 Suppose, however, that the elaborate organizations which the workmen now see devoted so exclusively to the interests of the stockholders were conducted equally for the benefit of both workmen and stock holders, that the Obj ect of the ceaseless striving after e iciency and lower costs were just as much the paying Of higher wages as the paying Of higher dividends, and that every increase in profits meant just as much an increase in wages as it did an increase in dividends. In stead Of feeling themselves mere tools employed for the profit of the stockholders the men would be able to feel that industry existed as much for them as for any one else, that industrial enterprises instead of being their masters, attempting to get as much out of them as pos sible, were their servants attempting to produce as much for them as possible. Knowing that industry was being conducted as much for their benefit as for the benefit of the stockholders, the workmen would be able to feel that industry in part belonged to them and that they were a part Of it. They would feel themselves to be insiders and would feel the interest in the affairs of industry and the responsibility for its prosperity which an insider, as contrasted with an outsider, feels. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works."