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THE INTERNATIONAL LABOUR ORGANISATION FACES THE PROBLEM OF ECONOMIC PLANNING
Author(s) -
THOMAS Albert
Publication year - 1936
Publication title -
annals of public and cooperative economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.526
H-Index - 37
eISSN - 1467-8292
pISSN - 1370-4788
DOI - 10.1111/j.1467-8292.1936.tb00517.x
Subject(s) - order (exchange) , work (physics) , purchasing power , power (physics) , economics , economic justice , business , market economy , economic policy , political science , law , finance , mechanical engineering , physics , quantum mechanics , keynesian economics , engineering
Raw materials are there. Stocks are not diminishing. They are increasing. Men , labour are there and there are 25 millions offering their services. Even the credits whose absence has been blamed are there. What, then, is wanting? What we want is organisation the possibility of co‐ordinating all the necessary factors, the will to set all the factors to work, and to set them to work in accordance with the requirements of social justice. What we lack is the supreme initiative which will permit international decisions to be made . Surely employers and workers should agree with one another and with the Governments in demanding, in the name of the International Labour Conference, a monetary policy concerted internationally with a view to the restoration of a normal situation . The monetary unity of the world requires a return to the gold standard, but a gold standard the purchasing power of which is properly controlled and stabilised, subject of course to the inevitable minor fluctuations . A planned economy, in order to succeed, must be first of all a conscious economy, an economy in which everyone concerned is fully conscious both of its objects and of its possibilities . The development of industrial relations in undertakings is tending to promote a deeper consciousness of the general interest and this creates possibilities for economic reconstruction. The participation of employers and workers in a national or international economic organisation would appear to be a useful means of supplementing the system of industrial relations establishet in undertakings or corporations. It seems calculated to inspire and vitalise the new system of industrial relations from top to bottom .