Can Wages be Fixed in Terms of an International Standard?

Paul Davidson

Chapter 10 in International Money and the Real World, 1982, pp 202-213 from Palgrave Macmillan

Abstract: Abstract Advocates of universal indexing of money wage contracts are suggesting that by changing the laws of contract money wages can be made sticky in terms of some commodity standard. If such a system were feasible, should money wages be geared to the money cost of an international or a domestic commodity standard? And, what would be the operational effects of such legal modification of the existing law of money contracts on the operation of an entrepreneurial economy?

Keywords: Real Income; Efficiency Wage; Income Policy; International Money; Money Wage (search for similar items in EconPapers)
Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-16679-4_10

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DOI: 10.1007/978-1-349-16679-4_10

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