ABSTRACT
PROFIT SHARING MINUTES, JANUARY 1921 - SEPTEMBER 1923
5.1 Introduction
The profit-sharing scheme came into operation in January 1921 and in
examining its performance and progress up to September 1923 it becomes
As a starting point, it is important to note that the commencement of the
in Britain, with unemployment rising to above 20% of the insured population,
and as Aldcroft argued:
"Apart from investment, which was bolstered up by a large scale programme of subsidized housebuilding, all indices of activity fell sharply; industrial production by IB.6 per cent, exports by 30.1 per cent, total output by 12.1 per cent, real income by 3.2 per cent, employment by 14.4 per cent and wholesale prices by over one third."
