President Harry Truman speaks in Washington, DC, about the duties of US labor

The transcript discusses the balance between price stability and wage rates, emphasizing that wage increases are possible without raising prices. It highlights the responsibilities of labor in ensuring reasonable wage demands and supporting industry. The importance of efficiency and productivity for achieving mass production is stressed, along with the need for labor to reduce absenteeism and disputes. Finally, it advocates for collective bargaining as a mature and effective business practice.

What is the key to achieving both stable prices and higher wages according to the first section?

• Reducing wages to maintain price stability

• Focusing solely on consumer demands

• Approaching the issue with reasonableness and collaboration

• Increasing prices across all industries

Why must labor ensure that wage demands are reasonable in the post-war context?

• To avoid increasing consumer prices

• To maintain high wartime production levels

• To ensure industries can transition smoothly to civilian products

• To prevent excessive profits for industries

What responsibility does labor have in aiding industry according to the second section?

• To support industry in achieving higher production and more jobs

• To ensure industries do not make any profits

• To demand higher wages regardless of industry conditions

• To focus on reducing consumer prices

What is one way labor can contribute to greater productivity?

• By increasing absenteeism

• By focusing on individual rather than collective goals

• By reducing turnover and avoiding disputes

• By demanding higher wages without negotiation

What mature approach is suggested for labor and management to adopt?

• Individual negotiations

• Collective bargaining

• Ignoring disputes

• Focusing on short-term gains