The [pay] policy is principally designed to hold down wages rather than to check inflation. Inflation is being used as an excuse to destroy free trade union bargaining.
About this quote
- What does it mean?
- Pay policies aim to suppress wages using inflation as a justification, which weakens union bargaining power.
- In plain terms
- Inflation is used to lower wages and weaken unions.
- What can you take from it?
- Be aware of how economic terms justify policy actions.
Where it applies
Putting it to work
Questions to consider
- Who benefits from wage suppression?
- How are economic terms used politically?
Another view
Inflation control may be a legitimate goal regardless of intent.
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