Abstract

The refusal by the Canadian Labour Congress and the Canadian Na tional Trades Union to cooperate with the Federal Government's Prices and Incomes Commission is worthy of comment. We intend to develop only one aspect which is very important, yet has not been adequately treated by the very extensive literature on the subject of wage policy for an economy in full or nearly full employment. This is the question of whether wage rates should be increased when the company can afford to do so. Much of the discussion in the literature is about wage increases being forced upon re luctant companies where productivity has not been increasing in propor tion, and there has been fairly general agreement that if a company can pay, it should do so. We wish to explore some of the implications of this special question.

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