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Show PRICE CONTROL MEANS WAGE CONTROL The argument, made in some political circles, cir-cles, that prices for commodities and services ser-vices should be arbitrarily fixed but that wages of labor should not be subjected to rontrol, a magnificent example of muddled thinking. The price trend now is to a large extent the result of the successful demands for pver-higher wages made large groups of labor in all fields. We are beginning to witness wit-ness the consequences in our daily living. For example, the retail stores of this coun- try, led by the chains and organized independent inde-pendent groups, have conducted an aggressive aggres-sive campaign against price inflation.. They have cut overhead costs whenever possible sible and passed the savings on to the consumer. con-sumer. They have in many cases voluntarily accepted smaller unit profits. Even so, retail prices are rising steadily. The stores of Amer ica have reached the point where no major additional economiss are possible, and where they can no longer keep in business without incrasing the price charged the customer. In most industrial and agricultural fields the cost of labor is a very large part of the total cost of production. It is reflected in the cost of all commodies, all materials, all svt-plics. svt-plics. How can there be cost stability under these circumstances without wage stability' The truth is that all talk of workable price ceilings is idle unless wage ceilngs ?re considered ac well. The sooner labor understands under-stands that, the better for all. If it becomes necessary to adopt strict price cotrol, the freedom of action of all I industry and all groups will be severly limited. limit-ed. Price control is prife dictatorship. And labor must expect wage dictatorship by government, gov-ernment, if government is forced to establish estab-lish price dictatorship. |
