Abstract

Wages, Prices, and Production
Fischer, Ben | February 23, 1946 issue

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This article focuses on the concept of more jobs higher wages and higher purchasing power due to increase in production, given by the National Association of Manufacturers. The author highlights the great depression in industries during the period of 1924-1929. The author gives the reason that although the production and profit reached heights but due to low wages of the labors, the purchasing power was not high. The author says that the failure of wages to keep up with prices during the war is not explained by the working of economic system but rather by the way government economic controls were applied in the political atmosphere of war-time America.

See Also:

WAGE-price policy; NATIONAL Association of Manufacturers (Organization); DEPRESSIONS -- 1929; PURCHASING power; INDUSTRIES -- United States; UNITED States
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