Suchergebnisse

A review of 1939-56 wage developments and policies shows the willingness of trade unions to exercise self-restraint. Inflationary pressures, however, caused an uncontrollable and distorting "wage drift." Wage-price ex plosions resulted: repeatedly it appeared necessary to reshape the wage structure on the basis of rank-and-file psychology and market developments as well as long-term principles ("solidaristic wage policy"). At times centralized master agreements were used. All this is the background of a recurrent discussion as to how to solve the dilemma of wage policy in full employment without de stroying the self-determination of the organizations. The institutional back ground is shown by implication.—Ed.

Since 1945 there has been a constant upward movement of the indices of wage rates in Britain, average weekly earnings (only slightly affected by shifts in the employment distribution of wage earners), and retail prices. The margin between rates and earnings has progressively widened, to a consid erable degree owing to overtime pay. Wage rates and retail prices have shown parallel rises on the whole. The various factors involved in these movements are analyzed, including the policies of the Labour and the Conservative govern ments.—Ed.