Guaranteed Annual Wages

Guaranteed Annual Wages

Guaranteed Annual Wages

Guaranteed Annual Wages

Excerpt

Just as we go on the presses with this volume on Guaranteed Annual Wages, there comes the announcement that President Roosevelt has asked the advisory board of the Office of War Mobilization and Reconversion to undertake a nationwide study of existing wage guarantee plans and to recommend any "further steps in this direction which may seem practicable and desirable."

It so happens that one of the most complete and successful guaranteed annual wage plans in operation in the United States is that of the George A. Hormel packing house in Austin, Minnesota. For a number of years economists of the University of Minnesota have studied the Hormel and similar plans intensively, and in 1942 the University of Minnesota Press published a monograph entitled Economic Effects of Steady Employment and Earnings. A Case Study of the Annual Wage System of Geo. A. Hormel & Co. by Jack Chemick, economist of the School of Business Administration of the University of Minnesota.

So when in the spring of 1944 it became evident that the subject was of increasing importance and concern, not only to labor and management but to the entire nation as well, we had a backlog of research to draw upon. The Press commissioned Mr. Chernick, now of the University of Manitoba, and Mr. George C. Hellickson, an experienced newspaperman on the staff of the Minneapolis Star-Journal, to prepare a brief popular discussion of the Case for the Annual Wage, primarily from the community point of view--in other words, to tell us what it means for all of us.

The economic analysis was to be Mr. Chernick's responsi-

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