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This newspaper page contains 7 articles. Subscribers can read the full text of each article.
Newspaper
Denton Journal
Location
Denton, Maryland, United States of America
Date
Dec 27, 1946
Page
14
The piece laments swelling federal bureaucracy grown since the war with countless boards and agencies issuing conflicting orders. It cites agencies like the OPA as vestiges and calls for Congress to clear dead wood to cut red tape and shrink government expenses while restoring production.
The Portland Journal argues the strike targets national factories and railroads, farmers and locals, with the miners now under a boss who wields force against government and citizens. It suggests labor excesses may push Congress to restrain unions, mirroring past anti trust era limits on capitalists.
Dr. Paul Nystrom of Columbia University warns that Congress adopting a substantially higher minimum wage risks sparking an inflationary spiral. He says minimum pay protects only basic living needs, while raising it boosts costs for all workers and erodes wage differentials, fueling demand for higher pay across the board.
The piece notes the February celebration of Thomas Edison birthday and the nation wide focus on his life and the electric age. It emphasizes Edison’s impact on industry farming home refrigeration and the growth of electric service as a civilizing and economic force. It lauds pioneers and the evolving power industry delivering more power for less money and large taxable assets for government units.
The article lauds the Edison centennial as a tribute to an era of economic progress and human betterment. It notes a forward look with a $300,000,000 rural electrification program to connect nearly all farms to power lines and emphasizes continued achievement beyond past laurels.
A survey finds public misperception of industry earnings. It notes that average profit margins are small and workers receive a modest share of product value. Drucker’s steel study shows profits are a minor portion of the steel dollar with workers earning about $3,038 of $37,100 in 1941 while material costs exceed $2,700 and debt consumes part of value.
The article argues profits cannot be redistributed to raise wages. It outlines depreciation and taxes reducing take home pay, estimating average profits per worker amount to a week or two of wages. It concludes wage gains come from higher output per manhour, not price inflation, benefiting all and raising living standards.
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