Wages and Productivity in Great Britain

K. G. J. C. Knowles
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K. G. J. C. Knowles: Oxford University

Chapter Chapter 17 in Problems in Economic Development, 1965, pp 320-328 from Palgrave Macmillan

Abstract: Abstract Despite the early proliferation of industrial institutions, laissez-faire has — paradoxically — been dying harder in Great Britain than in many other places and, while the gearing of wages to productivity is evidently of central importance, it is hard to find any appreciable ‘effects of wage policies on productivity’ or statistical relationship between the two. Thus the OEEC concluded that ‘given the antiquated nature of the institutional arrangements in a number of [British] industries, the weakness of the central bodies on both sides, and the lack of any clearly defined norm for arbitrators to take as a guide when making awards, there can be no assurance that wage increases will in future be kept in line with the growth potential of the economy’.1

Keywords: Wage Rate; Real Wage; Capital Accumulation; High Wage; Wage Differential (search for similar items in EconPapers)
Date: 1965
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-15223-0_17

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DOI: 10.1007/978-1-349-15223-0_17

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