21.   If this was so, then it was despite the considerable success of many groups of skilled workers in obtaining a succession of wage increases.

22.   Workers therefore have an incentive to revise their expectation of inflation upwards and to lodge claims for money wage increases which fully reflect the extent of this revision.

23.   Is it desirable for the ILP to join the Communist International as a Party sympathising with Communism with the right to a consultative vote...?

24.   So they can only raise real wages if product markets are tight enough to prevent the employers from passing all money wage increases on in higher prices.

25.   Annual money wage increases rose to about twice those of the mid-fifties, and product wages accelerated as well.

26.   Governments sometimes responded by promptly devaluing the currency to offset the cost disadvantage of the wage increases.

27.   The strikers won big wage increases, around twice those of the preceding years.

28.   The strike waves took place at around the same time and all won major wage increases.

29.   The money wage increases which workers won exceeded those required to generate enough scrapping to ease labour shortage.

30.   Holding down money wage increases can reduce both inflation and real wage rises, as lower cost increases enable employers to raise profit margins where competition is weak.