Abstract
This paper is concerned with the question of what benefits might be offered to wage-earners in exchange for a moderation of inflationary wage demands. We start, therefore, from the assumption that such an exchange is not only desirable but possible. This, in fact, is not obviously the case. For if wage rates and wage increases are completely determined by purely ‘economic’ factors, there can be no such exchange. For this reason, we set out, in Section II, the assumptions concerning the factors that determine wage increases.
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© 1968 The International Institute for Labour Studies
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Pen, J. (1968). Buying off Wage Inflation. In: Smith, A.D. (eds) The Labour Market and Inflation. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-81631-6_4
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DOI: https://doi.org/10.1007/978-1-349-81631-6_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-81633-0
Online ISBN: 978-1-349-81631-6
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