Unions, Inflation and Profits

“Unions, Inflation and Profits.” In: Philip D. Bradley (ed.) The Public Stake in Union Power. Charlottesville, University of Virginia Press: 1959.


“Tendencies are observable in the field of labor economics which most seriously threaten our future prosperity. The developments which are bringing this about are not of recent dates. They extend at least over the last twenty-five years. But for most of that time, and particularly during the long period of great prosperity through which we have recently passed, it may have seemed as if the United States could take it in stride even those new hurdles which only a few alarmists regarded as serious. But there are strong reasons for thinking that things will soon be coming to a head. It may be that already those new demands of labor which I want later to examine in some detail will prove to be the critical point. Or Walter Reuther may decide that this is not a favorable moment for a decisive test of strength and the fatal struggle will be deferred a little further. Whichever it will be, I have little doubt that we shall soon have to face fundamental issues which have not become easier to solve because the practices and institutions which raise them have been allowed to continue for such a long time.

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