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Before Mary Follett, industrial groups had seldom been the subject of study of political or social scientists. It was her special merit to turn from the traditional subjects of study - the state or the community as a whole - progressively to concentrate on the study of industry... Her approach was to analyse the nature of the consent on which any democratic group is based by examining the psychological factors underlying it. This consent, she suggested, is not static but a continuous process, generating new and living group ideas through the interpenetration of individual ideas.
Money, when considered as the fruit of many years' industry, as the reward of labor, sweat and toil, as the widow's dowry and children's portion, and as the means of procuring the necessaries and alleviating the afflictions of life, and making old age a scene of rest, has something in it sacred that is not to be sported with, or trusted to the airy bubble of paper currency.
The human aspect of industry has changed very considerably in the last fifty years. The nature and range of these changes are still partly unknown to us, but the question of their significance is no longer in dispute. Whereas the human problems of industry were regarded until recently as lying within the strict province of the specialist, it is now beginning to be realized that a clear statement of such problems in particular situations is necessary to the effective thinking of every business administrator and every economic expert.
More than ten million women march to work every morning side by side with the men. Steadily the importance of women is gaining not only in the routine tasks of industry but in executive responsibility. I include also the woman who stays at home as the guardian of the welfare of the family. She is a partner in the job and wages. Women constitute a part of our industrial achievement.
China is now suffering from poverty, not from unequal distribution of wealth. Where there are inequalities of wealth, the methods of Marx can, of course, be used; a class war can be advocated to destroy the inequalities. But in China, where industry is not yet developed, Marx's class war and dictatorship of the proletariat are impracticable.
The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk. In a managed bankruptcy, the federal government would propel newly competitive and viable automakers, rather than seal their fate with a bailout check.
All the land has been discovered. Some parts of hidden South America maybe still lie out of sight, but this land here has been discovered. Every inch. Now the move is inner space. New religions. est. Gurus. Meditation. Outer space is too expensive and only lies within the reach of the government or corporate industry.
Coal being then the chief source of power, much industrial reconstruction depended on there being a plentiful and cheap supply. But the newly nationalized industry was not doing well. Productivity failed to increase in step with increases in mechanization. Men were leaving the mines in large numbers for more attractive opportunities in the factories. Among those who remained, absenteeism averaged 20 percent. Labor disputes were frequent despite improved conditions of employment. Some time earlier the National Coal Board had asked the Institute to make a comparative study of a high producing, high morale mine and a low producing, low morale, but otherwise equivalent mine.
Under a system of perfectly free commerce, each country naturally devotes its capital and labour to such employments as are most beneficial to each. This pursuit of individual advantage is admirably connected with the with the universal good of the whole. By stimulating industry, by rewarding ingenuity, and by using most efficaciously the peculiar powers bestowed by nature, it distributes labour most effectively and most economically: while, by increasing the general mass of productions, it diffuses general benefit, and binds together, by one common tie of interest and intercourse, the universal society of nations throughout the civilized world.
Such a condition will likewise give opportunity to devote our surplus wealth, not to the payment of high taxes, but to the financing of the needs of other nations. Our country has already through private sources recognized the requirements in this direction and has made large advances to foreign governments and foreign enterprises for the purpose of reestablishing their public credit and their private industry.
Is it really likely that a National Planning Officer would have a better judgement of 'the number of cars, the number of generators, and the quantities of frozen foods we are likely to require in, say, five years,' than Ford or General Motors etc., and, even more important, would it even be desirable that various companies in an industry all act on the same guess?
But there still prevails, even in nations well acquainted with commerce, a strong jealousy with regard to the balance of trade, and a fear, that all their gold and silver may be leaving them. This seems to me, almost in every case, a groundless apprehension; and I should as soon dread, that all our springs and rivers should be exhausted, as that money should abandon a kingdom where there are people and industry.
No one likes to see redundancies at home at the same time as he sees a surge of imports from abroad. The temptation to succumb to political pressure, to make a special case or to give respite is often overwhelming. But to do so, except in response to clearly unfair trading practices, is to court disaster. The temporary measure frequently becomes the permanent fixture and the special case, a precedent for more. And by shielding industry from fair competition in the short-term, long term decline is guaranteed.