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Updated: June 6, 2025
Although there is no necessary and immediate conflict of interest between wage earners and small farmers, it is evident that it is impossible for Socialists to offer the small farmers as much as the capitalist collectivists do, for the latter are willing in this instance to promote, for political purposes, an uneconomic mode of production which is a burden on all society.
The customary chronology records the first American labor strike in 1741. In that year the New York bakers went out on strike. A closer analysis discloses, however, that this outbreak was a protest of master bakers against a municipal regulation of the price of bread, not a wage earners' strike against employers.
It seems likely that they will continue to displace men in many of the simpler mechanical jobs. Many individual women wage earners have risen to tasks of responsibility and direction. This number will be greatly added to by improvement in the education of women for industry and by their continued self-assertion.
Monopolies, they are beginning to see, cannot be destroyed by private competition, even when it is encouraged by the legislation and the courts, and must be controlled by the government. But government regulation is no lasting condition. If investors and consumers are to be protected, wage earners will most certainly be protected also as Mr. Roosevelt advocates.
By this same device on purchases, and the automatic accumulation of part of the profit in the capital of each society and in that of the Wholesales, it has demonstratedly added to the personal wealth of the manual working class, and has, alike in Great Britain, and in other countries, afforded both a valuable financial reserve to the wage earners against all emergencies and an instrument for their elevation from the penury to which competition is always depressing them.
The differences of individual efficiency among the workers that would be affected by the living wage policy are more substantial than the differences of individual efficiency among the members of the more skilled wage earners.
Or that consumers will not resume buying until prices drop greatly. Under which circumstances the policy of wage reduction would be as much to the benefit of the wage earners as to the rest of the community. This case is to be distinguished from the previous one really only by the decided seriousness of the situation it reveals.
Two reasons exist, therefore, for giving separate treatment to the question of the principles by which the wages of these least favorably placed groups of wage earners should be settled as part of the policy of wage settlement for industrial peace.
Yet it can be stated with emphasis, that from the point of view of the wage earners as a whole, and of all of society, that any consistent adherence to this group demand theory of wages would be mistaken and unsound.
The general rise in wages will destroy the profits of many farmer employers, and it will offer to the smallest self-employing farmers the possibility of an income as wage earners so much larger, and conditions so much better, than anything they can hope for as independent producers that they will cease to prefer self-employment.
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