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Show "Remember that three groups workers, consumers, and management man-agement should share the wealth created by American industry. That is the American way forward for-ward to higher living standards." Who is it saying this? It is "Labor's Monthly Survey," published pub-lished by the American Federation Federa-tion of Labor, which incidentally, notes that out of 1,800,000 work ers on strike or threatening to strike, only 112,000 were A F L members and that its unions were winning their wage gains almost entirely without strikes. "Industry's profits," the AFL publication continues, "should bring (1) wage increases; (2) price reductions; (3) reward for management as an incentive to improve production. Reserves Needed "Also, reserves must be laid aside to buy the new machinery which will increase productivity and make further wage gains possible, pos-sible, and investors must receive enough return on their invest- ments to bring your company adequate ade-quate financing. You cannot expect ex-pect all the profit to go into wage increases. "Secretary Schwellenbach's rules for fact-finding boards, issued is-sued Dec. 21, state that they may recommend a wage increase on the basis that it 'can be paid' by the company. To decide what increase 'can be paid' means deciding what profit a company should be allowed al-lowed to make, what reserves it should be permitted to set aside against future emergencies or expansion, ex-pansion, and 'similar policy questions. ques-tions. "The government dictates policy, pol-icy, but will it guarantee a company com-pany against the loss which may result from carrying out that policy? This is dangerous tampering tam-pering with private initiative. And labor knows that private initiative initia-tive in America has brought the efficiency which makes possible high living standards." |