Sec. 1. The problems of wage settlement arising out of upward
price movements two in number: (a) Should wages be increased
during such periods? (b) If so, on what basis should
increases be arranged? The doctrine of the maintenance of
the standard of life analyzed.
Sec. 2. An alternative method of adjustment proposed, based on
a new index number.
Sec. 3. Periods of falling prices also present two problems of
wage settlement, similar in essentials to those presented by
upward movement. These problems discussed.