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Labour Union Power and Cost-Inflation

In: Inflation

Author

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  • Edward H. Chamberlin

    (Harvard University)

Abstract

Trade union structure varies in different countries, and the role of labour union power in inflation varies accordingly. This is true not merely with respect to the amount of power, but, much more important, with respect to its nature and to the context in which it operates. The conditions envisaged in this paper are mainly those of the economy of the U.S.A. However, I believe (and hope) that the arguments presented will have general validity wherever similar conditions are found. It will be assumed that stable prices are desirable, with no rebuttal attempted against those who like inflation (only a little, of course, and not too fast). The definition of inflation is also not discussed — it does not appear necessary to limit the positions here taken by tying them to any particular definition.

Suggested Citation

  • Edward H. Chamberlin, 1962. "Labour Union Power and Cost-Inflation," International Economic Association Series, in: Douglas C. Hague (ed.), Inflation, chapter 0, pages 221-232, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-08455-5_14
    DOI: 10.1007/978-1-349-08455-5_14
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    Cited by:

    1. Nelson, Edward, 2017. "Reaffirming the Influence of Milton Friedman on U.K. Economic Policy," Working Papers 2017-01, University of Sydney, School of Economics, revised Feb 2017.

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