Wage Policy in the Real Socialist System

Jan Adam
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Jan Adam: University of Calgary

Chapter 5 in Employment and Wage Policies in Poland, Czechoslovakia and Hungary since 1950, 1984, pp 67-83 from Palgrave Macmillan

Abstract: Abstract To understand the objectives of wage policy it is necessary first to define the functions of wages. Usually four functions are attributed to wages. (1) Income-wages are a determinant of consumption of the population,1 approximately 70 per cent of which is financed from wages. (2) Motivational — this function stems from the first; because wages are a factor of consumption they can serve as an instrument of motivation. (3) Cost — wages as workers’ incomes are at the same time a cost to enterprises. (4) Allocative — wages help to distribute and redistribute labour.

Keywords: Social Benefit; Real Income; Wage Differential; Average Wage; Wage Increase (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-06832-6_5

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DOI: 10.1007/978-1-349-06832-6_5

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