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Updated: May 28, 2025
As a matter of course this interest in the always new best possible method of production is still strongly increased where piece-wages are introduced. The laborer knows that the amount of his earning depends upon the rapidity with which he finishes faultless products.
The literature of political economy is full of discussions of the effect of increase of wages, of the payment of bonuses and premiums, of piece-wages, of promised pensions, and, as far as Europe is concerned, of state insurance. In short, the whole individual financial situation in its relation to the psychophysical achievement of the wage-earner is a favorite topic of economic inquiry.
Pigou has written, "In order that the piece-wage system, and the benefit to production which it carries with it, may win further ground, what is required is to develop in these more difficult industries an adequate machinery for subordinating piece-wages, ... to the full control of collective bargaining."
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