| 单词 | real wage resistance |
| 释义 | real wage resistance Difficulty in reducing real wages. This is partly due to opposition by trade unions to accepting wage settlements that do not at least compensate for price increases since the last agreement. Employers also know that workers dislike accepting reductions in their real incomes: wage offers involving real reductions are thought to be bad for morale, so employers are reluctant to make them. Real wage resistance is distinguished from nominal wage resistance, that is unwillingness to accept cuts in money wages. Real wage resistance is much worse than nominal wage resistance in obstructing adjustments in the structure of relative wages when these are necessary, and in making it difficult to bring an inflationary spiral to an end. |
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