ABSTRACT
Industrial administration, by providing the means for intensive mechanical production by increased steam-power and more efficient plant and machinery, demanding less and less exhaustive strain on the employees, has unlimited opportunity for increased output at reduced cost after paying wages on the highest world's scale. Under these conditions, industrial administration scientifically applied will provide that the profits resulting from the enormously increased output are not all to go as dividends on the capital employed, but shall be shared in fair and equitable proportion between both Capital and Labour. The low wages of labour in agriculture have been a handicap in every way to the farmer by greatly reducing the efficiency of his labour and the attractiveness of farm work to the wage-earner. And yet defeat is certain if our industrial organization is founded on attempted oppression of Labour on the one hand or restriction of output by Labour on the other hand.
