ECONOMIC PROBLEMS

Hawera Star, Volume XLVIII, 12 January 1929, Page 9

ECONOMIC PROBLEMS

TNDUSTRI AD problems occupy eonsiderable space in the November issue of the “Economic Record.” Professor Carter Goodrich, of the University of Michigan, U.S.A., contributes an interesting comparison of the Australian and American labour movements, Mr. W. H. Cocker reviews the operations of industrial arbitration in New Zealand, and Mr. George Anderson gives an account of the new Commonwealth .Conciliation and Arbitration Act. These thre c articles, taken together, will be of unusual interest at the present moment, when industrial relations are under review in a national industrial conference.

Mr. Cocker finds that “the greatest achicA’ement of the NeAv Zealand Conference (on industrial relations) Avas the restoration of confidence in the Court of Arbitration.” He .considers that “4he abolition of the 'Court has ceased to be a matter of practical politics.” Whatever the shortcomings of the Court may be, this stafe of mind in both parties clears the air for construct too achie\’ement.

Professor Goodrich shoAVs that “the conditions Avhich gave 'the American employee his great opportunity for mass production are unique, and little likely to be repeated. The United States, in the future, Avith its free land gone and immigration restricted, is more likely to follow the Australian

FACING NEW ZEALAND

road than Australia is take the American. An article of equal interest, at the moment, closely connected Avith the discussion of industrial relations, is the able review of the Australian coal industry by Mr. E. R. E. Mauldon, of the ) University of Melbourne. 'His discussion is well illustrated, but is not overloaded with graphs and statistics. He is at pains to shoAV that the coal problem in Australia is not vitally different from that of other countries. “The non-coincidence of interests among coal proprietors on different fields, and on the same field, and the traditional hostility between OAvners and miners as a Avhole, with the consequent incapacity of the industry itself to settle its problems, justify the intervention of the State,” ho says. Mr. Mauldon favours the present proposals for price reduction, including the subsidy by the Uommomvealth Government, as a temporary expedient only. ' Its indefinite continuance, he says, AA-ould not be of real assistance to the industry, and it Avould raise aAvkward questions concerning preferential treatment of one State by the Federal Government. The journal also contains the paper on “Australian Loan Expenditure,” read by Sir Lennon Rravs recently before the Victorian branch of the Economic Society. This is n remarkably fine analysis of the results of loan expenditure in all States, and it should receive Avide attention.