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Wage-Fixing (Routledge Revivals) by J. E. Meade

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CHAPTER III

Other Criteria for Fixing Rates of Pay

The thesis of this work is that against the background of a battery of other measures for affecting the distribution of incomes and property and against the background of monetary and budgetary measures to ensure a steady rate of expansion in the total demand for labour, the overriding criterion for fixing rates of pay should be the promotion of employment. How far does this criterion conflict with the other criteria which are often considered for this purpose? Three alternative criteria are often proposed, namely:

(1) comparability with the rates of pay of other workers;

(2) the linking of rates of pay with improved productivity;

(3) the special improvement of conditions for low-paid workers. ...

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