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Inflation and Wage Differentials in Great Britain

In: The Theory of Wage Determination

Author

Listed:
  • H. A. Turner

    (University of Manchester)

Abstract

The relative antiquity of collective bargaining in Britain may give custom and convention a greater influence on the fixing of wages there than is general. What follows is an interpretation of British experience, particularly that of the period of full employment since 1940, but much of it may have an application to other ‘high employment’ economies of the Western type. There seems to be a dual relation between the inflationary trend characteristic of such economies and the system of wage differentials. Attention has been largely concentrated upon the effects of inflation on relative wages. Wage relationships, however, may also play a more positive rle in sustaining the inflation and determining its form.

Suggested Citation

  • H. A. Turner, 1957. "Inflation and Wage Differentials in Great Britain," International Economic Association Series, in: John T. Dunlop (ed.), The Theory of Wage Determination, chapter 0, pages 123-135, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-15205-6_9
    DOI: 10.1007/978-1-349-15205-6_9
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