Capital takes its place as a wage-earner along with labor, and both, after receiving their earnings--interest for the one, wages for the other--share in the profits and losses; both share, also, in the ownership and management. Even the consumer is recognized as one of the constituents, and shares in the profit he brings, and can share in the control by becoming a stockholder….I have taken pains to note the shortcomings, failures, criticisms of the movement. I have referred readers to fuller information of these where space forbade my giving it, and have not concealed the fact that the subject is one of controversy and opposition, even within the co-operative world itself.
Before attempting to deal with organizations of his employees the employer ought to have a thorough understanding of the labor question. He must analyze the relations between his own management and his working force, and he must have complete knowledge of the labor administration machinery already existing in his plant, which labor relations this machinery is designed to handle and which is it not equipped to handle. This is the diagnosis part of the job and, unfortunately, diagnosing the industrial ills in a plant is usually neglected by both employers and labor experts.