The concept of wage-push inflation: development and policy

Concepts of wage-push inflation and wage-price spirals arose after unions became important economic actors in the 1930s and during World War II. These concepts, although never rigorously defined, became the basis of the Kennedy-Johnson guideposts program. Even after the guideposts collapsed, there w...

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Bibliographic Details
Published in:Labor history 2008-11, Vol.49 (4), p.417-438
Main Authors: Mitchell, Daniel J.B., Erickson, Christopher L.
Format: Article
Language:English
Subjects:
20th century
Economic history
Economic Policy
Inflation
Labor unions
Monetary history
Studies
U.S.A
Union membership
Unionization
Unions
United States of America
Wage inflation
Wage rates
Wage structure
Wages
Wages & salaries
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Summary:Concepts of wage-push inflation and wage-price spirals arose after unions became important economic actors in the 1930s and during World War II. These concepts, although never rigorously defined, became the basis of the Kennedy-Johnson guideposts program. Even after the guideposts collapsed, there were attempts to constrain wage-push directly under Nixon and Carter. Thereafter, when union membership collapsed, concerns about wage-push by aggressive unions became implausible in the USA.
ISSN:0023-656X
1469-9702
DOI:10.1080/00236560802376789