Block · one region of the page, as the scanner read it. It may hold a whole story, part of one, several, or an advertisement; stitching blocks into articles is the next step. Text is supplied OCR.
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4. In our modern exchange economy, all payroll and employment come from customers, and the only noteworthy job security is customer security; if there are no customers, there can be no payroll and no jobs.
5. Customer security can be achieved by the worker only when the “boss” is allowed to do things that win and hold customers. Job security, therefore, is a partnership problem that can be solved only in a spirit of mutual understanding.
6. Because wages are the principal cost of everything, widespread wage increases, without corresponding increases in production, simply increases the cost of everybody’s living.
7. The greatest good for the greatest number means, in its material sense, the greatest goods for the gratest number, which in turn means the greatest productivity per worker.
8. All productivity is based on three factors: (a) natural resources whose form, place and condition are changed by the expenditure of (b) human energy (both muscular and mental), with the aid of (c) tools.
9. Tools are the only one of these three factors that man can increase, and tools come into being in a free society only when there is a reward for the temporary self-denial that people must practice in order to channel part of their earnings away from purchases that produce immediate comfort and pleasure, and into new tools of production. Proper payment for the use of tools is essential to their creation. .
10. The productivity of tools—that is, the efficiency ot the human energy applied in connection with their use—is highest in a competitive society in which the economic decisons are made by millions of progress-seeking individuals, rather than a state-planned society in which those decisions are made by a handful of powerful people— regardless of how well-meaning, unselfish, sincere and intelligent those people may be.
(Chicago Daily Drovers Journal)
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