Jr. John D. Rockefeller

Summary

Jr. John D. Rockefeller The Personal Relation in Industry

It is this theme, coöperation in industry, that I desire to develop.
We must ask ourselves at the outset certain fundamental questions:
First, what is the purpose of industry? Shall we cling to the conception of industry as an institution, primarily of private interest, which enables certain individuals to accumulate wealth, too often irrespective of the well-being, the health, and the happiness of those engaged in its production? Or shall we adopt the modern viewpoint and regard industry as being a form of social service, quite as much as a revenue-producing process?
Source: Gutenberg

Jr. John D. Rockefeller The Personal Relation in Industry

II Labor and Capital—Partners [1] I
Labor and Capital are rather abstract words with which to describe those vital forces which working together become productively useful to mankind. Reduced to their simplest terms, Labor and Capital are men with muscle and men with money—human beings, imbued with the same weaknesses and virtues, the same cravings and aspirations.
It follows, therefore, that the relations of men engaged in industry are human relations. Men do not live merely to toil; they also live to play, to mingle with their fellows, to love, to worship.
Source: Gutenberg

Jr. John D. Rockefeller The Personal Relation in Industry

The interests of Capital can no more be neglected than those of Labor.
At the same time I feel that a prime consideration in the carrying on of industry should be the well-being of the men and women engaged in it, and that the soundest industrial policy is that which has constantly in mind the welfare of the employees as well as the making of profits, and which, when the necessity arises, subordinates profits to welfare.
In order to live, the wage-earner must sell his labor from day to day. Unless he can do this, the earnings of that day’s labor are gone forever.
Source: Gutenberg

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