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The D1lemma of Wages Pol1cy
A Cr1t1que of Rehns Approach
A Reply to Professor Lundberg
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400 million able accept average balance centralized wages policy consumption cost of living crease demand for labour discussion duction ductivity economic policy effect employers excessive wage increases expanding industries export favourable Frictional unemployment full employment full-employment society high profits hourly earnings increase in productivity increased indirect taxation increased wages increases in wages inflation inflationary gap inflationary tendencies inflationary wage investment labour exchanges labour market long run low profits Lundberg maintained mand marginal firms means measures ment million crowns monetary monetary policy money wages necessary organizations period ployment possible post-war price control price increases price level price rise price-wage problem purchasing power redistribution reduction Rehn Rehn's policy relative wages responsibility restrictive result rise in productivity risk saving situation Sweden Swedish taxes tion trade union movement unem value of money wage changes wage claims wage differences wage differentials wage level wage movements wage rates wage structure wage-earners workers