Labor, Industry, and Regulation during the Progressive Era

This book examines the Progressive Era's economic and labor dynamics, focusing on the steel industry and its regulatory challenges, particularly through the lens of Labor, Industry, and Regulation during the Progressive Era.

The Progressive Era was a pivotal moment in American history, characterized by significant economic and labor upheaval. In Labor, Industry, and Regulation during the Progressive Era, Daniel E. Saros delves into the intricate institutional and economic conditions that defined this transformative period. Through a detailed examination, he uncovers the regulated nature of industry and the labor conditions that emerged during these tumultuous times.

Focusing on the steel industry as a primary case study, Saros illustrates how the United States Steel Corporation played a crucial role in enhancing industry performance. He highlights their innovative approach to initiating a price and wage stabilization program, which aimed to mitigate threats from various stakeholders, including the federal government and organized labor. To further protect their interests, steel companies adopted paternalistic welfare programs, established company unions, and implemented limited hours reforms, showcasing their strategies to maintain control over the labor force.

Saros also provides a comparative analysis of this era against periods of free market dynamics. By examining the impacts on profit rates, output growth, and capital accumulation, he offers valuable insights into how regulation shaped the economic landscape. Overall, Labor, Industry, and Regulation during the Progressive Era presents a comprehensive understanding of the complexities of labor and industry during one of America's most volatile historical periods.