Abstract
ROADLY speaking, the fixation of wages by the state has been advocated for four major reasons: (i) as a means of establishing a minimum below which the pressure of competition and of employers should not force labor; (2) as a means of raising the efficiency of labor and of industry; (3) as a part of a general system of compulsory arbitration with a primary view to preventing or reducing strikes; (4) as a means of building up consumers purchasing power and, therefore, presumably increasing the quantity of goods produced and consumed, as well as the numbers employed.
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