Fay M. Blake and H. Morton Newman
The year 1935 marked a significant change for America's elderly. In that year, Congress passed the Social Security Act, which provided federally funded old‐age benefits to workers…
Abstract
The year 1935 marked a significant change for America's elderly. In that year, Congress passed the Social Security Act, which provided federally funded old‐age benefits to workers when they reached 65. Passed in a year of deep and persistent economic depression, the Social Security Act has continued to support and sustain millions of elderly people. But its historical meaning is even more profound; its passage signified that the United States had come of age as an industrial society. The welfare of its older citizens was no longer left to individual citizens, but was recognized as a social responsibility. From the thirties through the seventies, that principle has been generally accepted and encouraged.
When I was young, new students addressed me as “Miss Wheeler”; when I became middle‐aged, “Mrs. Wheeler,” while all around me they called men of all ages “Dr.” and “Professor.”…
Abstract
When I was young, new students addressed me as “Miss Wheeler”; when I became middle‐aged, “Mrs. Wheeler,” while all around me they called men of all ages “Dr.” and “Professor.” When I was middle‐aged, I involved myself in a civil rights action; the administrator in charge of my department was referred to as “that nice young man,” and I sometimes as “the old bat” — there was a year's difference in our ages. By way of introduction to the topic of aging and females, here are four concepts to consider:
Samantha A. Conroy and John W. Morton
Organizational scholars studying compensation often place an emphasis on certain employee groups (e.g., executives). Missing from this discussion is research on the compensation…
Abstract
Organizational scholars studying compensation often place an emphasis on certain employee groups (e.g., executives). Missing from this discussion is research on the compensation systems for low-wage jobs. In this review, the authors argue that workers in low-wage jobs represent a unique employment group in their understanding of rent allocation in organizations. The authors address the design of compensation strategies in organizations that lead to different outcomes for workers in low-wage jobs versus other workers. Drawing on and integrating human resource management (HRM), inequality, and worker literatures with compensation literature, the authors describe and explain compensation systems for low-wage work. The authors start by examining workers in low-wage work to identify aspects of these workers’ jobs and lives that can influence their health, performance, and other organizationally relevant outcomes. Next, the authors explore the compensation systems common for this type of work, building on the compensation literature, by identifying the low-wage work compensation designs, proposing the likely explanations for why organizations craft these designs, and describing the worker and organizational outcomes of these designs. The authors conclude with suggestions for future research in this growing field and explore how organizations may benefit by rethinking their approach to compensation for low-wage work. In sum, the authors hope that this review will be a foundational work for those interested in investigating organizational compensation issues at the intersection of inequality and worker and organizational outcomes.
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Gregory R. Thrasher, Reed J. Bramble and Boris B. Baltes
Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and…
Abstract
Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.
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A pæan of joy and triumph which speaks for itself, and which is a very true indication of how the question of poisonous adulteration is viewed by certain sections of “the trade,”…
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A pæan of joy and triumph which speaks for itself, and which is a very true indication of how the question of poisonous adulteration is viewed by certain sections of “the trade,” and by certain of the smaller and irresponsible trade organs, has appeared in print. It would seem that the thanks of “the trade” are due to the defendants in the case heard at the Liverpool Police Court for having obtained an official acknowledgment that the use of salicylic acid and of other preservatives, even in large amounts, in wines and suchlike articles, is not only allowable, but is really necessary for the proper keeping of the product. It must have been a charming change in the general proceedings at the Liverpool Court to listen to a “preservatives” case conducted before a magistrate who evidently realises that manufacturers, in these days, in order to make a “decent” profit, have to use the cheapest materials they can buy, and cannot afford to pick and choose; and that they have therefore “been compelled” to put preservatives into their articles so as to prevent their going bad. He was evidently not to be misled by the usual statement that such substances should not be used because they are injurious to health— as though that could be thought to have anything to do with the much more important fact that the public “really want” to have an article supplied to them which is cheap, and yet keeps well. Besides, many doctors and professors were brought forward to prove that they had never known a case of fatal poisoning due to the use of salicylic acid as a preservative. Unfortunately, it is only the big firms that can manage to bring forward such admirable and learned witnesses, and the smaller firms have to suffer persecution by faddists and others who attempt to obtain the public notice by pretending to be solicitous about the public health. Altogether the prosecution did not have a pleasant time, for the magistrate showed his appreciation of the evidence of one of the witnesses by humorously rallying him about his experiments with kittens, as though any‐one could presume to judge from experiments on brute beasts what would be the effect on human beings—the “lords of creation.” Everyone reading the evidence will be struck by the fact that the defendant stated that he had once tried to brew without preservatives, but with the only result that the entire lot “went bad.” All manufacturers of his own type will sympathise with him, since, of course, there is no practicable way of getting over this trouble except by the use of preservatives; although the above‐mentioned faddists are so unkind as to state that if everything is clean the article will keep. But this must surely be sheer theory, for it cannot be supposed that there can be any manufacturer of this class of article who would be foolish enough to think he could run his business at a profit, and yet go to all the expense of having the returned empties washed out before refilling, and of paying the heavy price asked for the best crude materials, when he has to compete with rival firms, who can use practically anything, and yet turn out an article equal in every way from a selling point of view, and one that will keep sufficiently, by the simple (and cheap) expedient of throwing theory on one side, and by pinning their faith to a preservative which has now received the approval of a magistrate. Manufacturers who use preservatives, whether they are makers of wines or are dairymen, and all similar tradesmen, should join together to protect their interests, for, as they must all admit, “the welfare of the trade” is the chief thing they have to consider, and any other interest must come second, if it is to come in at all. Now is the time for action, for the Commission appointed to inquire into the use of preservatives in foods has not yet given its decision, and there is still time for a properly‐conducted campaign, backed up by those “influential members of the trade” of whom we hear so much, and aided by such far‐reaching and brilliant magisterial decisions, to force these opinions prominently forward, in spite of the prejudice of the public; and to insure to the trades interested the unfettered use of preservatives,—which save “the trade” hundreds of thousands of pounds every year, by enabling the manufacturers to dispense with heavily‐priced apparatus, with extra workmen and with the use of expensive materials,—and which are urgently asked for by the public,—since we all prefer to have our foods drugged than to have them pure.
In the very able and striking address which he recently delivered before the Society of Arts, Sir WILLIAM PREECE insisted that commercial success—whether of a man, of a body of…
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In the very able and striking address which he recently delivered before the Society of Arts, Sir WILLIAM PREECE insisted that commercial success—whether of a man, of a body of men, or of a nation—is referable to the working of distinct laws, the recognition and study of which may justly be said to constitute a “science of business.” In terms rendered the more severe by their dispassionate and moderate character, Sir WILLIAM referred to the lamentable ignorance displayed by the legislature, by the manufacturer, and by the general public, of what may bo regarded as the most elementary facts and methods upon which such a science must be based. He pointed to the loose and bungling character of our commercial legislation; to the lack of co‐operation and combination; to the nonexistence of a properly organised and effective consular service whereby full information could be supplied and the interests of British trade, both home and colonial, might be studied and advanced; and finally to the lethargy of British producers and manufacturers themselves, who allow foreign competitors to drive them out of even their own home markets without making an effort to discard the old‐fashioned and worn‐out methods which have given those competitors the advantage. Of late years the warning voice has been raised from time to time, but it has been as a voice crying in the wilderness. The remarkable speech delivered at the Guildhall by H.R.H. THE PRINCE OF WALES is fresh in the recollection of those who are not too drowsy or too indifferent to appreciate the vital nature and the magnitude of the evil. In 1891 Lord PLAYFAIR stated that if the Americans were right in principle in the management of some of their commercial concerns, “the whole policy of the United Kingdom was founded on a gigantic error, and must lead to our ruin as a commercial nation.” Sir WILLIAM PREECE is amply justified in attaching severe blame to the British manufacturer and producer. They have allowed “the Americans and the Germans to oust them out of their own markets, not by any superiority in the quality of their goods, but by lower prices, by superior knowledge of the demands of the markets, by the establishment of new markets, by better direct communication with foreign countries, by superior methods in business ways, by establishing regular intelligence departments, and, above all, by possessing and exercising superior commercial technical knowledge,” “and,” continued Sir.WILLIAM, “they must lay aside the commercial habits of their fathers.” With regard to food‐products, for instance, can it be truly said that any adequate steps are taken to secure any satisfactory and permanent improvement of the national food supply with respect to purity and good quality? Has anything been done, with governmental or legislative assistance, to make a systematic study of, and provide authoritative information upon such questions as the sources from which food stuffs are obtained, the adequacy or inadequacy of supplies, the true value of home‐produce and the advantages of utilising colonial products as far as possible? The answers to these questions can only be emphatically in the negative. There is no civilised country in the world in which the producer and vendor of adulterated, impoverished, and inferior articles of food can cany on their nefarious practices with more impunity, in certain respects, than in the United Kingdom, although, originally, we led the way in framing legislative enactments on these all‐important matters. At every port of entry today we might most appropriately set up the old waste‐land notice that “rubbish may be shot here.” As we offer all the necessary facilities, and as they are being taken advantage of more and more, wo might also freely advise that “rubbish should bo manufactured here” as well, What steps do British producers and manufacturers of articles of food take to move with the times, to set their houses in order, to protect themselves, and to enable the public to differentiate between the good and the bad? In the vast majority of instances the attitude they adopt is still one of unmasterly inactivity, except in the direction of unscientific and clumsy advertisement. On this they spend enormous sums without proportionate returns, and in following this course they constantly lay themselves open to condemnatory criticism by the publication of unauthorised and exaggerated statements which, in spit© of CARLYLE'S dictum “mostly fools,” are now merely received by the general public with a shrug of the shoulders. The time has come when, in order not only to develop their trade but in order to keep it, British manufacturers must give evidence of an independent and authoritative character to justify the faith that is presumably in them in recommending their goods to the public. Those who refuse to entertain new ideas and who are content to rest in a semi‐comatose condition on the achievements of the past,—relying merely on the possession of the hitherto reputable “name of the firm,”—by the operation of an inexorable law must inevitably drop out of the race.